Wells Fargo & Company Trims TE Connectivity (NYSE:TEL) Target Price to $153.00

TE Connectivity (NYSE:TEL) had its target price dropped by equities research analysts at Wells Fargo & Company from $155.00 to $153.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 3.30% from the company’s current price.

Several other brokerages also recently weighed in on TEL. Vertical Research started coverage on TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research note on Wednesday, July 24th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Truist Financial lifted their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $158.73.

TE Connectivity Trading Down 0.9 %

Shares of NYSE TEL opened at $148.11 on Friday. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $149.59 and its 200 day simple moving average is $147.45.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 EPS. Equities research analysts expect that TE Connectivity will post 7.57 EPS for the current year.

Insider Buying and Selling

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after buying an additional 1,304,199 shares during the period. Wellington Management Group LLP grew its holdings in shares of TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after acquiring an additional 403,750 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after acquiring an additional 223,842 shares during the last quarter. Finally, Pzena Investment Management LLC raised its holdings in shares of TE Connectivity by 9.3% during the first quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock worth $406,459,000 after acquiring an additional 238,370 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.