TE Connectivity (TEL) Earns “Outperform” Rating from Cowen

TE Connectivity (NYSE:TEL)‘s stock had its “outperform” rating restated by equities researchers at Cowen in a report released on Thursday. They currently have a $110.00 target price on the electronics maker’s stock, up from their previous target price of $95.00. Cowen’s price target suggests a potential upside of 19.20% from the company’s previous close.

A number of other analysts have also recently weighed in on TEL. Royal Bank Of Canada reduced their target price on shares of TE Connectivity from GBX 300 ($4.04) to GBX 225 ($3.03) and set an “outperform” rating for the company in a report on Thursday, August 10th. BidaskClub cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Stifel Nicolaus restated a “buy” rating and set a $87.00 target price on shares of TE Connectivity in a report on Tuesday, October 17th. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, SunTrust Banks raised their target price on shares of TE Connectivity to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $151.07.

TE Connectivity (NYSE TEL) opened at $92.28 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The stock has a market cap of $32,547.54, a P/E ratio of 19.16, a PEG ratio of 1.61 and a beta of 1.08. TE Connectivity has a 1-year low of $66.20 and a 1-year high of $96.68.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.84% and a return on equity of 18.97%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. analysts anticipate that TE Connectivity will post 5.27 EPS for the current fiscal year.

In related news, SVP Eric Resch sold 48,950 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $93.75, for a total value of $4,589,062.50. Following the completion of the sale, the senior vice president now owns 78,129 shares in the company, valued at approximately $7,324,593.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 130,616 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the completion of the sale, the insider now owns 429,499 shares of the company’s stock, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 759,805 shares of company stock valued at $69,542,539. 1.30% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TEL. Renaissance Technologies LLC purchased a new stake in TE Connectivity in the 1st quarter worth approximately $3,601,000. Stratos Wealth Partners LTD. lifted its position in TE Connectivity by 4.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,138 shares of the electronics maker’s stock worth $247,000 after buying an additional 143 shares in the last quarter. IFP Advisors Inc lifted its position in TE Connectivity by 25.1% in the 2nd quarter. IFP Advisors Inc now owns 6,342 shares of the electronics maker’s stock worth $499,000 after buying an additional 1,272 shares in the last quarter. Pioneer Investment Management Inc. lifted its position in TE Connectivity by 45.8% in the 2nd quarter. Pioneer Investment Management Inc. now owns 267,604 shares of the electronics maker’s stock worth $21,055,000 after buying an additional 84,031 shares in the last quarter. Finally, Global X Management Co. LLC lifted its position in TE Connectivity by 25.6% in the 2nd quarter. Global X Management Co. LLC now owns 4,204 shares of the electronics maker’s stock worth $331,000 after buying an additional 858 shares in the last quarter. Institutional investors own 90.22% of the company’s stock.

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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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