Royal Bank Of Canada reaffirmed their buy rating on shares of TE Connectivity Ltd. (NYSE:TEL) in a research report report published on Monday morning, Marketbeat reports. The brokerage currently has a $95.00 price target on the electronics maker’s stock, up from their previous price target of $90.00.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded TE Connectivity from a buy rating to a hold rating in a research report on Tuesday, September 5th. Cowen and Company reaffirmed a buy rating and issued a $95.00 price target on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, BidaskClub downgraded TE Connectivity from a buy rating to a hold rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. TE Connectivity presently has an average rating of Hold and a consensus target price of $91.00.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company earned $1.22 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year.
In related news, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the sale, the insider now directly owns 298,851 shares of the company’s stock, valued at $23,695,895.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total value of $11,924,025.93. Following the sale, the insider now directly owns 429,500 shares in the company, valued at $39,209,055. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,566 shares of company stock worth $38,072,448. 1.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in TEL. Wellington Management Group LLP grew its position in TE Connectivity by 94.6% during the first quarter. Wellington Management Group LLP now owns 139,318 shares of the electronics maker’s stock worth $10,387,000 after buying an additional 67,715 shares in the last quarter. Thrivent Financial For Lutherans grew its position in TE Connectivity by 5.9% during the first quarter. Thrivent Financial For Lutherans now owns 13,210 shares of the electronics maker’s stock worth $984,000 after buying an additional 740 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in TE Connectivity during the first quarter worth about $3,601,000. Barings LLC grew its position in TE Connectivity by 104.3% during the first quarter. Barings LLC now owns 9,600 shares of the electronics maker’s stock worth $716,000 after buying an additional 4,900 shares in the last quarter. Finally, Saturna Capital CORP acquired a new stake in TE Connectivity during the first quarter worth about $254,000. 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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