TE Connectivity Ltd. (TEL) Price Target Raised to $90.00
TE Connectivity Ltd. (NYSE:TEL) had its price objective upped by SunTrust Banks, Inc. to $90.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has a “hold” rating on the electronics maker’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential downside of 1.07% from the stock’s current price. The analysts noted that the move was a valuation call.
TEL has been the topic of a number of other research reports. BidaskClub lowered TE Connectivity from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 target price on shares of TE Connectivity in a research report on Wednesday, September 20th. Cowen and Company reiterated a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a research report on Thursday, August 10th. Zacks Investment Research lowered TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of TE Connectivity in a research report on Monday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $87.25.
TE Connectivity (NYSE:TEL) last posted its earnings results 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. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year.
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In related news, COO Joseph B. Donahue sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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. Insiders have sold 322,949 shares of company stock valued at $26,148,422 over the last quarter. 1.30% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. State of Wisconsin Investment Board grew its holdings in TE Connectivity by 26.3% in the 3rd quarter. State of Wisconsin Investment Board now owns 325,656 shares of the electronics maker’s stock valued at $27,049,000 after buying an additional 67,740 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in TE Connectivity by 1.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 58,583 shares of the electronics maker’s stock valued at $4,866,000 after buying an additional 900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in TE Connectivity by 3.0% in the 3rd 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 buying an additional 1,537 shares in the last quarter. Forsta AP Fonden grew its holdings in TE Connectivity by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 36,986 shares of the electronics maker’s stock valued at $3,072,000 after buying an additional 4,000 shares in the last quarter. Finally, Csenge Advisory Group purchased a new stake in TE Connectivity in the 3rd 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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