Equities research analysts at Wells Fargo & Company began coverage on shares of TE Connectivity Ltd. (NYSE:TEL) in a research report issued to clients and investors on Friday. The brokerage set an “outperform” rating and a $105.00 price target on the electronics maker’s stock. Wells Fargo & Company’s price target indicates a potential upside of 12.26% from the company’s previous close.
Several other analysts have also issued reports on TEL. BidaskClub lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada cut their price target on shares of TE Connectivity from GBX 300 ($3.95) to GBX 225 ($2.96) and set an “outperform” rating for the company in a research report on Thursday, August 10th. Morgan Stanley cut their price target on shares of TE Connectivity from GBX 350 ($4.60) to GBX 269 ($3.54) and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Cowen and Company restated a “buy” rating and set a $95.00 price target on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, Robert W. Baird began coverage on shares of TE Connectivity in a research report on Friday, November 3rd. They set an “outperform” rating and a $105.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $150.00.
TE Connectivity (NYSE:TEL) opened at $93.53 on Friday. The company has a market capitalization of $32,836.45, a price-to-earnings ratio of 19.24, a P/E/G ratio of 1.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. TE Connectivity has a 12 month low of $66.13 and a 12 month high of $93.75.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. equities analysts forecast that TE Connectivity will post 5.26 EPS for the current year.
WARNING: “TE Connectivity Ltd. (TEL) Now Covered by Wells Fargo & Company” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/11/12/te-connectivity-ltd-tel-now-covered-by-wells-fargo-company.html.
In related news, CFO Heath A. Mitts sold 10,736 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $93.14, for a total value of $999,951.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas J. Lynch sold 186,033 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the completion of the transaction, the insider now directly owns 298,851 shares of the company’s stock, valued at $23,695,895.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 512,503 shares of company stock valued at $43,640,863. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after buying an additional 521,884 shares in the last quarter. Boston Partners raised its stake in TE Connectivity by 8.1% in the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after buying an additional 934,796 shares in the last quarter. FMR LLC raised its stake in TE Connectivity by 9.7% in the second quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after buying an additional 472,037 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in TE Connectivity by 9.4% in the second quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock worth $315,955,000 after buying an additional 346,093 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in TE Connectivity by 7.1% in the second quarter. Wells Fargo & Company MN now owns 3,903,233 shares of the electronics maker’s stock worth $307,105,000 after buying an additional 259,969 shares in the last quarter. 90.12% of the stock is owned by institutional investors.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.