TE Connectivity’s (TEL) “Buy” Rating Reiterated at Stifel Nicolaus
TE Connectivity Ltd. (NYSE:TEL)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a note issued to investors on Friday. They presently have a $98.00 target price on the electronics maker’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 5.68% from the stock’s current price.
TEL has been the topic of several other research reports. BidaskClub downgraded TE Connectivity from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 price objective on shares of TE Connectivity in a report on Wednesday, September 20th. Cowen and Company restated a “buy” rating and set a $95.00 price target on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Finally, Citigroup Inc. upped their price target on TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $93.50.
TE Connectivity (TEL) traded up $0.86 during midday trading on Friday, hitting $92.73. 1,218,847 shares of the stock traded hands, compared to its average volume of 1,110,696. The company has a market capitalization of $32,359.38, a price-to-earnings ratio of 18.96 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. sell-side analysts expect that TE Connectivity will post 5.27 earnings per share for the current year.
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In other news, insider Thomas J. Lynch sold 130,617 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total value of $11,924,025.93. Following the transaction, the insider now owns 429,500 shares in the company, valued at approximately $39,209,055. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas J. Lynch sold 186,033 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $79.29, for a total value of $14,750,556.57. Following the completion of the transaction, the insider now owns 298,851 shares in the company, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,566 shares of company stock worth $38,072,448. Company insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEL. Duncker Streett & Co. Inc. increased its holdings in shares of TE Connectivity by 17.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 200 shares during the last quarter. First Command Bank increased its holdings in shares of TE Connectivity by 19.6% in the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after acquiring an additional 221 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 384 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of TE Connectivity in the 2nd quarter valued at about $126,000. Finally, Harfst & Associates Inc. increased its holdings in shares of TE Connectivity by 46.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after acquiring an additional 544 shares during the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.
TE Connectivity Company Profile
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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