Robert W. Baird reaffirmed their buy rating on shares of TE Connectivity (NYSE:TEL) in a research note released on Tuesday morning. The brokerage currently has a $123.00 target price on the electronics maker’s stock.
Several other research analysts have also recently weighed in on the stock. Oppenheimer began coverage on shares of TE Connectivity in a report on Monday, March 26th. They issued an outperform rating and a $120.00 price target on the stock. Zacks Investment Research raised shares of TE Connectivity from a hold rating to a buy rating and set a $113.00 price target on the stock in a report on Friday, March 23rd. ValuEngine raised shares of TE Connectivity from a hold rating to a buy rating in a report on Friday, February 2nd. SunTrust Banks reaffirmed a hold rating and issued a $102.00 price target on shares of TE Connectivity in a report on Thursday, January 25th. Finally, Morgan Stanley upped their price target on shares of TE Connectivity from $102.00 to $111.00 and gave the stock an overweight rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. TE Connectivity has an average rating of Buy and an average price target of $134.38.
TE Connectivity stock opened at $101.05 on Tuesday. The firm has a market capitalization of $35,419.16, a PE ratio of 20.92, a PEG ratio of 1.68 and a beta of 1.07. TE Connectivity has a fifty-two week low of $72.95 and a fifty-two week high of $108.23. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.39 billion. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 earnings per share. sell-side analysts anticipate that TE Connectivity will post 5.5 earnings per share for the current year.
In related news, SVP Robert J. Ott sold 10,700 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $105.14, for a total value of $1,124,998.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terrence R. Curtin sold 142,450 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $104.24, for a total value of $14,848,988.00. Following the completion of the transaction, the insider now directly owns 200,258 shares in the company, valued at approximately $20,874,893.92. The disclosure for this sale can be found here. In the last three months, insiders sold 352,750 shares of company stock worth $36,475,611. 0.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its position in TE Connectivity by 279.9% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,647,497 shares of the electronics maker’s stock valued at $156,578,000 after buying an additional 1,213,860 shares during the period. BlackRock Inc. boosted its position in TE Connectivity by 4.2% during the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock valued at $1,656,081,000 after buying an additional 694,901 shares during the period. Boston Partners boosted its position in TE Connectivity by 2.6% during the fourth quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock valued at $1,211,419,000 after buying an additional 318,066 shares during the period. Wells Fargo & Company MN boosted its position in TE Connectivity by 8.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after buying an additional 313,244 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in TE Connectivity during the fourth quarter valued at about $26,890,000. 91.70% of the stock is currently owned by institutional investors and hedge funds.
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About TE Connectivity
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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