SunTrust Banks, Inc. Raises TE Connectivity Ltd. (TEL) Price Target to $90.00

TE Connectivity Ltd. (NYSE:TEL) had its target price raised by SunTrust Banks, Inc. to $90.00 in a research note released on Thursday, The Fly reports. They currently have a hold rating on the electronics maker’s stock. The analysts noted that the move was a valuation call.

Other analysts have also issued research reports about the company. Royal Bank Of Canada lowered their target price on TE Connectivity from $100.00 to $95.00 and set an outperform rating for the company in a report on Thursday. Zacks Investment Research lowered TE Connectivity from a buy rating to a hold rating in a report on Tuesday, September 5th. Cowen and Company restated a buy rating and set a $95.00 target price on shares of TE Connectivity in a report on Thursday, August 10th. Finally, BidaskClub lowered TE Connectivity from a buy rating to a hold rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $93.50.

Shares of TE Connectivity (NYSE TEL) traded up $1.16 during midday trading on Thursday, hitting $92.73. The company had a trading volume of 1,218,847 shares, compared to its average volume of 1,110,696. The company has a quick ratio of 0.92, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $32,769.30, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. TE Connectivity has a 12-month low of $62.22 and a 12-month high of $93.11.

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, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. TE Connectivity’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. equities research analysts anticipate that TE Connectivity will post 5.27 earnings per share for the current year.

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In other news, COO Joseph B. Donahue sold 6,300 shares of the company’s 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 transaction, the chief operating officer now directly owns 34,609 shares of the company’s stock, valued at $2,792,946.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas J. Lynch sold 130,616 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total value of $10,889,455.92. Following the transaction, the insider now directly owns 429,499 shares in the company, valued at $35,807,331.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 453,566 shares of company stock worth $38,072,448. Insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Duncker Streett & Co. Inc. increased its position in shares of TE Connectivity by 17.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 200 shares during the period. First Command Bank increased its position 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 acquiring an additional 221 shares during the period. Northwestern Mutual Wealth Management Co. increased its position 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 acquiring an additional 384 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at $126,000. Finally, Harfst & Associates Inc. increased its position 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 acquiring an additional 544 shares during the period. 90.33% of the stock is currently owned by institutional investors and hedge funds.

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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