TE Connectivity Ltd. (TEL) Price Target Raised to $106.00
TE Connectivity Ltd. (NYSE:TEL) had its price objective lifted by investment analysts at Citigroup Inc. from $92.00 to $106.00 in a report issued on Thursday. The firm currently has a “buy” rating on the electronics maker’s stock. Citigroup Inc.’s target price points to a potential upside of 16.52% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. SunTrust Banks, Inc. lifted their target price on shares of TE Connectivity to $90.00 and gave the stock a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Royal Bank Of Canada cut their target price on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $87.00 target price on shares of TE Connectivity in a research report on Tuesday, October 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $89.00 target price on shares of TE Connectivity in a research report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Hold” and an average target price of $88.78.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share.
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In other TE Connectivity news, COO Joseph B. Donahue sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.70, for a total transaction of $508,410.00. Following the completion of the sale, the chief operating officer now directly owns 34,609 shares in the company, valued at $2,792,946.30. The transaction was disclosed in a legal filing 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 transaction of $14,750,556.57. Following the sale, the insider now owns 298,851 shares of the company’s stock, valued at $23,695,895.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 322,949 shares of company stock valued at $26,148,422. 1.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board grew its stake in TE Connectivity by 26.3% during the third quarter. State of Wisconsin Investment Board now owns 325,656 shares of the electronics maker’s stock worth $27,049,000 after buying an additional 67,740 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of TE Connectivity by 1.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 58,583 shares of the electronics maker’s stock valued at $4,866,000 after purchasing an additional 900 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of TE Connectivity by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 52,572 shares of the electronics maker’s stock valued at $4,367,000 after purchasing an additional 1,537 shares during the period. Forsta AP Fonden boosted its stake in shares of TE Connectivity by 12.1% in the third quarter. Forsta AP Fonden now owns 36,986 shares of the electronics maker’s stock valued at $3,072,000 after purchasing an additional 4,000 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of TE Connectivity in the third quarter valued at $640,000. Institutional investors own 90.33% of the company’s stock.
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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