TE Connectivity (TEL) Reaches New 12-Month Low at $77.53

TE Connectivity Ltd (NYSE:TEL) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $77.53 and last traded at $77.98, with a volume of 129781 shares changing hands. The stock had previously closed at $78.61.

A number of equities research analysts have recently issued reports on TEL shares. ValuEngine downgraded shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Morgan Stanley reduced their price target on shares of TE Connectivity from $116.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, September 17th. Robert W. Baird downgraded shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research report on Monday, October 1st. Royal Bank of Canada set a $114.00 price target on shares of TE Connectivity and gave the company a “buy” rating in a research report on Tuesday, September 25th. Finally, Wells Fargo & Co reduced their price target on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $111.45.

The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.47. The stock has a market cap of $27.39 billion, a PE ratio of 16.06, a P/E/G ratio of 1.20 and a beta of 1.01.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.06. TE Connectivity had a net margin of 9.26% and a return on equity of 20.33%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd will post 5.58 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of TE Connectivity by 12.9% during the 2nd quarter. Janus Henderson Group PLC now owns 12,603,520 shares of the electronics maker’s stock worth $1,135,059,000 after purchasing an additional 1,443,941 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of TE Connectivity by 16.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,698,700 shares of the electronics maker’s stock worth $513,225,000 after purchasing an additional 795,423 shares in the last quarter. FMR LLC increased its stake in shares of TE Connectivity by 7.6% during the 2nd quarter. FMR LLC now owns 4,943,198 shares of the electronics maker’s stock worth $445,184,000 after purchasing an additional 347,329 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of TE Connectivity by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 4,262,230 shares of the electronics maker’s stock worth $383,855,000 after purchasing an additional 192,532 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of TE Connectivity by 35.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,631,749 shares of the electronics maker’s stock worth $327,075,000 after purchasing an additional 950,039 shares in the last quarter. 87.89% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Company Profile (NYSE:TEL)

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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