TE Connectivity (NYSE:TEL) Lowered to “Sell” at ValuEngine

TE Connectivity (NYSE:TEL) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday, ValuEngine reports.

Several other research analysts have also issued reports on TEL. Wells Fargo & Co lowered shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 25th. Morgan Stanley lowered shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $98.00 to $95.00 in a research report on Monday, September 23rd. Wolfe Research started coverage on shares of TE Connectivity in a research report on Tuesday. They issued a “market perform” rating and a $91.00 target price for the company. Goldman Sachs Group upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $105.00 in a research report on Thursday, June 20th. Finally, Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price for the company. in a research report on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $92.07.

Shares of TEL traded up $2.08 during mid-day trading on Friday, reaching $90.15. 1,003,101 shares of the stock traded hands, compared to its average volume of 1,468,530. The firm has a fifty day moving average price of $91.99 and a 200 day moving average price of $90.66. The company has a market cap of $28.73 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.18. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32. TE Connectivity has a 1 year low of $69.84 and a 1 year high of $97.99.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.43 billion. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. On average, sell-side analysts anticipate that TE Connectivity will post 5.52 EPS for the current year.

In other news, Director Thomas J. Lynch sold 124,400 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $93.41, for a total transaction of $11,620,204.00. Following the completion of the transaction, the director now directly owns 290,316 shares of the company’s stock, valued at $27,118,417.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven T. Merkt sold 65,650 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $93.55, for a total transaction of $6,141,557.50. Following the transaction, the insider now directly owns 89,854 shares of the company’s stock, valued at $8,405,841.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,500 shares of company stock valued at $23,737,285. Insiders own 0.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp raised its stake in TE Connectivity by 0.3% in the second quarter. Atlantic Union Bankshares Corp now owns 40,869 shares of the electronics maker’s stock worth $3,914,000 after buying an additional 112 shares in the last quarter. River Wealth Advisors LLC raised its stake in TE Connectivity by 0.3% in the second quarter. River Wealth Advisors LLC now owns 36,167 shares of the electronics maker’s stock worth $3,464,000 after buying an additional 115 shares in the last quarter. Teza Capital Management LLC raised its stake in TE Connectivity by 3.4% in the second quarter. Teza Capital Management LLC now owns 3,996 shares of the electronics maker’s stock worth $383,000 after buying an additional 132 shares in the last quarter. CWM LLC grew its holdings in TE Connectivity by 18.8% in the second quarter. CWM LLC now owns 855 shares of the electronics maker’s stock worth $82,000 after purchasing an additional 135 shares during the period. Finally, Biltmore Wealth Management LLC grew its holdings in TE Connectivity by 4.1% in the third quarter. Biltmore Wealth Management LLC now owns 3,659 shares of the electronics maker’s stock worth $341,000 after purchasing an additional 144 shares during the period. 89.88% of the stock is owned by institutional investors.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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