TE Connectivity’s (TEL) Outperform Rating Reaffirmed at Cowen
TE Connectivity (NYSE:TEL)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen in a report issued on Thursday, The Fly reports. They currently have a $110.00 price objective on the electronics maker’s stock, up from their previous price objective of $95.00. Cowen’s price objective indicates a potential upside of 19.20% from the company’s current price.
TEL has been the subject of a number of other reports. BidaskClub downgraded TE Connectivity from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Morgan Stanley restated an “overweight” rating and issued a $89.00 price target on shares of TE Connectivity in a research report on Wednesday, September 20th. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Royal Bank Of Canada reduced their target price on TE Connectivity from GBX 300 ($4.04) to GBX 225 ($3.03) and set an “outperform” rating on the stock in a research note on Thursday, August 10th. Finally, Citigroup increased their target price on TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and a consensus price target of $151.07.
Shares of TE Connectivity (NYSE TEL) opened at $92.28 on Thursday. The stock has a market capitalization of $32,547.54, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.61 and a beta of 1.08. TE Connectivity has a 52-week low of $66.20 and a 52-week high of $96.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07.
In other TE Connectivity news, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity 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 $39,209,055. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $83.37, for a total value of $10,889,455.92. Following the completion of the transaction, the insider now owns 429,499 shares in the company, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 759,805 shares of company stock worth $69,542,539. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its holdings in TE Connectivity by 112,210.6% in the second quarter. First Eagle Investment Management LLC now owns 1,684,659 shares of the electronics maker’s stock worth $132,549,000 after acquiring an additional 1,683,159 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in TE Connectivity by 17.7% in the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after acquiring an additional 1,239,920 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in TE Connectivity by 499.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,386,610 shares of the electronics maker’s stock worth $109,098,000 after acquiring an additional 1,155,316 shares in the last quarter. Boston Partners boosted its holdings in TE Connectivity by 8.1% in the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after acquiring an additional 934,796 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in TE Connectivity in the second quarter worth about $523,000. Institutional investors own 90.22% of the company’s stock.
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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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