TE Connectivity Ltd. (TEL) Given New $97.00 Price Target at Morgan Stanley

TE Connectivity Ltd. (NYSE:TEL) had its target price increased by equities researchers at Morgan Stanley from $89.00 to $97.00 in a research report issued on Thursday. The brokerage currently has an “overweight” rating on the electronics maker’s stock. Morgan Stanley’s price target indicates a potential upside of 6.63% from the stock’s previous close.

A number of other research firms have also recently commented on TEL. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Monday, September 11th. Royal Bank Of Canada lowered their price objective on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research report on Tuesday, October 17th. SunTrust Banks, Inc. boosted their price objective on shares of TE Connectivity to $90.00 and gave the company a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, BidaskClub cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $91.00.

TE Connectivity (NYSE:TEL) last released 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. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.

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In related news, insider Thomas J. Lynch sold 130,617 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the sale, the insider now directly owns 429,500 shares of the company’s stock, valued at $39,209,055. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph B. Donahue sold 6,300 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 34,609 shares in the company, valued at $2,792,946.30. The disclosure for this sale can be found here. Insiders have sold 453,566 shares of company stock worth $38,072,448 over the last three months. 1.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TEL. Duncker Streett & Co. Inc. lifted its holdings in TE Connectivity by 17.8% during the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after purchasing an additional 200 shares in the last quarter. First Command Bank lifted its holdings in TE Connectivity by 19.6% during the second 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in TE Connectivity by 38.6% during the second 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 in the last quarter. Acrospire Investment Management LLC purchased a new position in TE Connectivity during the second quarter valued at $126,000. Finally, Harfst & Associates Inc. lifted its holdings in TE Connectivity by 46.2% during the second 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 in the last quarter. 90.33% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Company Profile

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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