Robert W. Baird began coverage on shares of TE Connectivity Ltd. (NYSE:TEL) in a report issued on Friday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $105.00 target price on the electronics maker’s stock.
A number of other research firms also recently issued reports on TEL. Zacks Investment Research raised TE Connectivity from a hold rating to a buy rating and set a $88.00 target price on the stock in a research report on Monday, September 11th. Royal Bank Of Canada lowered their target price on TE Connectivity from $100.00 to $95.00 and set an outperform rating on the stock in a research report on Thursday. Stifel Nicolaus reaffirmed a buy rating and issued a $87.00 target price on shares of TE Connectivity in a research report on Tuesday, October 17th. SunTrust Banks, Inc. lifted their target price on 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, Morgan Stanley lifted their target price on TE Connectivity from $89.00 to $97.00 and gave the company an overweight rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of Buy and an average target price of $93.50.
Shares of TE Connectivity (NYSE TEL) opened at $92.73 on Friday. TE Connectivity has a 12 month low of $62.22 and a 12 month high of $93.11. The stock has a market capitalization of $32,769.31, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. TE Connectivity’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. equities research analysts forecast that TE Connectivity will post 5.27 earnings per share for the current fiscal year.
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In other TE Connectivity news, insider Thomas J. Lynch sold 130,617 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the transaction, the insider now owns 429,500 shares of the company’s stock, valued at $39,209,055. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas J. Lynch sold 186,033 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $79.29, for a total value of $14,750,556.57. Following the transaction, the insider now directly owns 298,851 shares in the company, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 447,266 shares of company stock worth $37,564,038. Company insiders own 1.49% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Duncker Streett & Co. Inc. increased its position 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 worth $104,000 after buying an additional 200 shares during the last quarter. First Command Bank boosted its holdings in shares of TE Connectivity by 19.6% during the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after acquiring an additional 221 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 worth $109,000 after acquiring an additional 384 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of TE Connectivity during the second quarter worth approximately $126,000. Finally, Harfst & Associates Inc. boosted its holdings in shares of TE Connectivity by 46.2% during the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after acquiring an additional 544 shares during the period. 90.12% of the stock is currently owned by hedge funds and other institutional investors.
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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