TE Connectivity Ltd. (TEL) Now Covered by Wells Fargo & Company

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.

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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.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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