Wells Fargo & Company Issues Pessimistic Forecast for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL) had its target price dropped by equities research analysts at Wells Fargo & Company from $230.00 to $209.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 2.98% from the company’s previous close.

TEL has been the subject of a number of other reports. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Evercore reissued an “in-line” rating and set a $230.00 price objective on shares of TE Connectivity in a research note on Monday, June 22nd. Barclays lifted their target price on TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Wall Street Zen raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, UBS Group cut their price target on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $251.15.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $202.95 on Thursday. The stock has a market cap of $59.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.38 and a beta of 1.17. The firm’s 50-day simple moving average is $205.36 and its 200 day simple moving average is $215.01. TE Connectivity has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The company has a quick ratio of 1.20, a current ratio of 1.88 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the firm posted $2.27 EPS. TE Connectivity’s revenue was up 13.8% compared to the same quarter last year. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Equities analysts expect that TE Connectivity will post 11.41 EPS for the current year.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider owned 25,976 shares of the company’s stock, valued at $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TEL. Wedge Capital Management L L P NC increased its holdings in TE Connectivity by 30.9% in the second quarter. Wedge Capital Management L L P NC now owns 349,262 shares of the electronics maker’s stock worth $70,415,000 after buying an additional 82,396 shares during the last quarter. Cardinal Capital Management Inc. bought a new stake in shares of TE Connectivity during the 2nd quarter worth about $31,493,000. Handelsbanken Fonder AB acquired a new position in shares of TE Connectivity during the 2nd quarter valued at about $38,996,000. Fulton Bank N.A. increased its holdings in shares of TE Connectivity by 10.3% during the 2nd quarter. Fulton Bank N.A. now owns 2,914 shares of the electronics maker’s stock valued at $587,000 after acquiring an additional 273 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $221,000. 91.43% of the stock is owned by institutional investors and hedge funds.

About TE Connectivity

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.