TE Connectivity (NYSE:TEL) had its target price lifted by equities research analysts at Stifel Nicolaus from $98.00 to $105.00 in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 10.21% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Morgan Stanley lifted their target price on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Citigroup boosted their price target on TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Robert W. Baird began coverage on TE Connectivity in a research report on Friday, November 3rd. They issued an “outperform” rating and a $105.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $151.43.
Shares of TE Connectivity (NYSE TEL) traded down $0.38 during midday trading on Thursday, reaching $95.27. The company’s stock had a trading volume of 1,794,700 shares, compared to its average volume of 1,446,935. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a market cap of $33,632.34, a price-to-earnings ratio of 19.80, a PEG ratio of 1.66 and a beta of 1.08. TE Connectivity has a 1-year low of $66.20 and a 1-year high of $96.68.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. TE Connectivity’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. equities research analysts anticipate that TE Connectivity will post 5.27 earnings per share for the current year.
TE Connectivity declared that its Board of Directors has authorized a stock buyback program on Friday, December 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other TE Connectivity news, CFO Heath A. Mitts sold 10,736 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total transaction of $999,951.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 130,616 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $83.37, for a total value of $10,889,455.92. Following the sale, the insider now owns 429,499 shares in the company, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 759,805 shares of company stock worth $69,542,539. 1.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of TE Connectivity by 38.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after buying an additional 384 shares during the last quarter. AllSquare Wealth Management LLC purchased a new stake in shares of TE Connectivity in the third quarter worth about $113,000. Acrospire Investment Management LLC purchased a new stake in shares of TE Connectivity in the second quarter worth about $126,000. Harfst & Associates Inc. boosted its stake in shares of TE Connectivity by 46.2% in the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares during the last quarter. Finally, Robecosam AG acquired a new position in TE Connectivity in the 3rd quarter worth about $155,000. Institutional investors and hedge funds own 90.22% of the company’s stock.
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About TE Connectivity
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.
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