Analysts Set TE Connectivity Ltd (NYSE:TEL) Target Price at $97.58

Shares of TE Connectivity Ltd (NYSE:TEL) have earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $99.18.

A number of research analysts have recently commented on TEL shares. JPMorgan Chase & Co. started coverage on shares of TE Connectivity in a research note on Tuesday, October 22nd. They set a “neutral” rating and a $102.00 price objective for the company. Wells Fargo & Co raised shares of TE Connectivity from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $112.00 in a research note on Tuesday. ValuEngine raised shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. Wolfe Research started coverage on shares of TE Connectivity in a research note on Tuesday, October 8th. They set a “market perform” rating and a $91.00 price objective for the company. Finally, Morgan Stanley downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $98.00 to $95.00 in a research note on Monday, September 23rd.

In other news, EVP John S. Jenkins sold 9,835 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $94.11, for a total transaction of $925,571.85. Following the completion of the transaction, the executive vice president now owns 45,430 shares of the company’s stock, valued at approximately $4,275,417.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Terrence R. Curtin sold 34,853 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $94.11, for a total transaction of $3,280,015.83. Following the transaction, the director now directly owns 164,332 shares of the company’s stock, valued at approximately $15,465,284.52. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of TE Connectivity by 75.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,783,817 shares of the electronics maker’s stock worth $352,576,000 after purchasing an additional 1,622,398 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of TE Connectivity by 19,806.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,570,836 shares of the electronics maker’s stock worth $150,455,000 after purchasing an additional 1,562,945 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of TE Connectivity by 7.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,659,858 shares of the electronics maker’s stock worth $1,404,121,000 after purchasing an additional 953,793 shares during the period. BlackRock Inc. grew its holdings in shares of TE Connectivity by 4.3% during the 2nd quarter. BlackRock Inc. now owns 16,809,367 shares of the electronics maker’s stock worth $1,610,001,000 after purchasing an additional 698,506 shares during the period. Finally, Waddell & Reed Financial Inc. grew its holdings in shares of TE Connectivity by 25.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,959,840 shares of the electronics maker’s stock worth $187,713,000 after purchasing an additional 401,754 shares during the period. 90.67% of the stock is owned by institutional investors.

TEL stock traded up $0.68 during trading on Friday, hitting $100.18. The stock had a trading volume of 1,622,766 shares, compared to its average volume of 1,620,993. The company’s 50 day moving average price is $95.07 and its two-hundred day moving average price is $92.86. TE Connectivity has a 1-year low of $74.84 and a 1-year high of $100.78. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.57.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. The firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that TE Connectivity will post 5.11 earnings per share for the current fiscal year.

TE Connectivity Company Profile

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.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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