TE Connectivity (NYSE:TEL) Stock Dropped to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded TE Connectivity from “buy” to “hold.” Analyst sentiment overall remains a “Moderate Buy,” with 11 Buy, 5 Hold and 1 Sell ratings and an average price target of $255.50.
• TE Connectivity reported quarterly earnings of $3.14 per share, beating the $3.07 consensus estimate; revenue of $5.31 billion also exceeded forecasts and rose 11.9% year over year.
• The stock opened at $207.59, below the average analyst price target, and has traded between $190.27 and $252.56 over the past year.

TE Connectivity (NYSE:TEL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

TEL has been the topic of several other reports. Sanford C. Bernstein began coverage on TE Connectivity in a research report on Wednesday, September 23rd. They set an "outperform" rating and a $243.00 price target on the stock. Jefferies Financial Group dropped their price objective on TE Connectivity from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Barclays boosted their price target on shares of TE Connectivity from $300.00 to $304.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. Wells Fargo & Company increased their price target on TE Connectivity from $209.00 to $220.00 and gave the stock a "cautious" rating in a research note on Friday, September 11th. Finally, Robert W. Baird raised their price objective on TE Connectivity from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has an average rating of "Moderate Buy" and an average price target of $255.50.

TE Connectivity Price Performance

TEL stock opened at $207.59 on Friday. TE Connectivity has a 1 year low of $190.27 and a 1 year high of $252.56. The stock has a market capitalization of $60.10 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.18. The company's 50-day moving average is $212.17 and its 200-day moving average is $212.54.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, October 28th. The electronics maker reported $3.14 EPS for the quarter, topping the consensus estimate of $3.07 by $0.07. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that TE Connectivity will post 13.43 EPS for the current fiscal year.

Institutional Investors Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its holdings in shares of TE Connectivity by 324.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker's stock worth $12,574,000 after acquiring an additional 47,691 shares during the last quarter. State Street Corp lifted its holdings in shares of TE Connectivity by 5.7% in the 2nd quarter. State Street Corp now owns 13,639,381 shares of the electronics maker's stock worth $2,750,079,000 after acquiring an additional 730,084 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of TE Connectivity by 8.1% in the 2nd quarter. QRG Capital Management Inc. now owns 154,278 shares of the electronics maker's stock valued at $31,104,000 after purchasing an additional 11,519 shares in the last quarter. Envestnet Asset Management Inc. raised its position in TE Connectivity by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,504,559 shares of the electronics maker's stock worth $303,332,000 after buying an additional 48,212 shares during the last quarter. Finally, First Financial Bank Trust Division grew its position in shares of TE Connectivity by 37.0% in the third quarter. First Financial Bank Trust Division now owns 27,375 shares of the electronics maker's stock valued at $5,778,000 after purchasing an additional 7,386 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Company Profile

TE Connectivity NYSE: TEL designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems.

The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.

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