TE Connectivity Lowered to Buy at Goldman Sachs Group Inc. (TEL)
TE Connectivity (NYSE:TEL) was downgraded by research analysts at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a report released on Tuesday, TheFlyOnTheWall.com reports.
In other TE Connectivity news, CEO Thomas Lynch sold 49,021 shares of TE Connectivity stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $54.36, for a total value of $2,664,781.56. Following the sale, the chief executive officer now directly owns 339,339 shares in the company, valued at approximately $18,446,468. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
TE Connectivity (NYSE:TEL) traded down 0.48% on Tuesday, hitting $55.43. 2,187,630 shares of the company’s stock traded hands. TE Connectivity has a 52 week low of $37.89 and a 52 week high of $56.06. The stock has a 50-day moving average of $53.87 and a 200-day moving average of $51.60. The company has a market cap of $22.747 billion and a P/E ratio of 18.44.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that TE Connectivity will post $3.67 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of TE Connectivity from $56.00 to $58.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. Analysts at RBC Capital raised their price target on shares of TE Connectivity from $57.00 to $61.00 in a research note to investors on Thursday, October 31st. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $50.50.
TE Connectivity Ltd., formerly Tyco Electronics Ltd., designs and manufactures over 500,000 products that connect and protect the flow of power and data inside various products.
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