TE Connectivity Ltd. (NYSE:TEL) had its price target lowered by investment analysts at Royal Bank Of Canada from $100.00 to $95.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the electronics maker’s stock.
A number of other brokerages have also recently commented on TEL. Zacks Investment Research cut TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Stifel Nicolaus restated a “buy” rating and issued a $87.00 price target on shares of TE Connectivity in a research report on Tuesday, October 17th. Morgan Stanley restated an “overweight” rating and issued a $89.00 price target on shares of TE Connectivity in a research report on Wednesday, September 20th. BidaskClub cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Cowen and Company restated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $92.40.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share.
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In other TE Connectivity news, COO Joseph B. Donahue sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.70, for a total transaction of $508,410.00. Following the completion of the transaction, the chief operating officer now owns 34,609 shares in the company, valued at approximately $2,792,946.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas J. Lynch sold 130,617 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total value of $11,924,025.93. Following the transaction, the insider now owns 429,500 shares of the company’s stock, valued at approximately $39,209,055. The disclosure for this sale can be found here. Insiders have sold a total of 453,566 shares of company stock valued at $38,072,448 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. Duncker Streett & Co. Inc. grew its holdings in TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. First Command Bank lifted its stake in shares of TE Connectivity by 19.6% in the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after purchasing an additional 221 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 384 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $126,000. Finally, Harfst & Associates Inc. lifted its stake in shares of TE Connectivity by 46.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after purchasing an additional 544 shares during the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.
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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