TE Connectivity (NYSE:TEL) Given New $185.00 Price Target at UBS Group

TE Connectivity (NYSE:TEL) had its price target hoisted by investment analysts at UBS Group from $163.00 to $185.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. UBS Group’s price objective would suggest a potential upside of 15.63% from the company’s current price.

A number of other brokerages also recently weighed in on TEL. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Truist Financial reduced their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Wall Street Zen cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Citigroup cut their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.50.

TE Connectivity Stock Performance

NYSE TEL opened at $159.99 on Friday. The firm has a market capitalization of $47.44 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm’s 50 day simple moving average is $144.78 and its 200 day simple moving average is $147.14. TE Connectivity has a 1 year low of $116.30 and a 1 year high of $164.11.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, research analysts expect that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the transaction, the executive vice president now owns 24,625 shares of the company’s stock, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,675 shares of company stock valued at $27,062,559. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $820,000. Blue Trust Inc. grew its position in TE Connectivity by 68.1% in the 4th quarter. Blue Trust Inc. now owns 2,915 shares of the electronics maker’s stock worth $440,000 after purchasing an additional 1,181 shares during the period. R Squared Ltd bought a new stake in TE Connectivity in the 4th quarter worth approximately $64,000. Asset Dedication LLC boosted its stake in shares of TE Connectivity by 440.0% during the 4th quarter. Asset Dedication LLC now owns 486 shares of the electronics maker’s stock worth $69,000 after acquiring an additional 396 shares during the last quarter. Finally, Foster & Motley Inc. boosted its stake in shares of TE Connectivity by 8.8% during the 4th quarter. Foster & Motley Inc. now owns 19,547 shares of the electronics maker’s stock worth $2,795,000 after acquiring an additional 1,581 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.