TE Connectivity (NYSE:TEL) Price Target Lowered to $179.00 at The Goldman Sachs Group

by · The Cerbat Gem

TE Connectivity (NYSE:TEL – Free Report) had its price target trimmed by The Goldman Sachs Group from $189.00 to $179.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

TEL has been the topic of several other research reports. Wells Fargo & Company cut their price target on shares of TE Connectivity from $155.00 to $153.00 and set an equal weight rating on the stock in a report on Friday, September 20th. Bank of America boosted their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the company a buy rating in a research report on Thursday, July 18th. HSBC lowered shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price objective for the company. in a report on Wednesday, July 24th. StockNews.com assumed coverage on TE Connectivity in a report on Sunday, September 29th. They set a buy rating on the stock. Finally, Hsbc Global Res upgraded TE Connectivity to a hold rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $160.42.

View Our Latest Stock Report on TEL

TE Connectivity Price Performance

TEL stock opened at $145.38 on Tuesday. The stock has a market capitalization of $44.52 billion, a price-to-earnings ratio of 13.30 and a beta of 1.33. The firm’s 50-day moving average price is $148.12 and its two-hundred day moving average price is $147.90. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 EPS. As a group, equities analysts predict that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the 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 sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 over the last three months. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. lifted its position in TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after purchasing an additional 506,754 shares during the period. Wellington Management Group LLP boosted its holdings in TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares during the last quarter. Finally, Bank of Montreal Can grew its position in TE Connectivity by 43.0% in the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock worth $174,955,000 after purchasing an additional 347,315 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Company Profile

(Get Free Report)

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.

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