Evercore ISI Boosts TE Connectivity (NYSE:TEL) Price Target to $225.00

Key Points

• Evercore ISI has increased the price target for TE Connectivity (NYSE:TEL) from $200.00 to $225.00, indicating a potential upside of 12.65% from the stock's previous close.
• The stock currently holds a consensus rating of "Moderate Buy" among analysts, with four rating it as "hold" and ten as "buy."
• TE Connectivity reported quarterly earnings of $2.27 per share, surpassing analysts’ expectations and reflecting a 13.9% increase in revenue from the previous year.

TE Connectivity (NYSE:TEL - Get Free Report) had its target price boosted by analysts at Evercore ISI from $200.00 to $225.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the electronics maker's stock. Evercore ISI's price objective would indicate a potential upside of 12.65% from the stock's previous close.

Several other equities research analysts have also recently weighed in on TEL. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. KGI Securities raised shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Truist Financial lifted their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. Finally, Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.55.

TE Connectivity Trading Down 1.1%

TE Connectivity stock opened at $199.73 on Tuesday. The stock has a market cap of $59.02 billion, a P/E ratio of 41.35, a PEG ratio of 2.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. TE Connectivity has a 1 year low of $116.30 and a 1 year high of $212.76. The firm's 50 day moving average price is $179.25 and its 200-day moving average price is $158.24.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.19. The firm had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 earnings per share. On average, equities analysts predict that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

Insider Activity at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 52,900 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the transaction, the insider owned 23,667 shares in the company, valued at $4,562,524.26. This represents a 69.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John S. Jenkins sold 45,850 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the transaction, the executive vice president owned 24,625 shares in the company, valued at approximately $5,154,751.25. This trade represents a 65.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,795 shares of company stock worth $26,401,597. 0.90% of the stock is owned by insiders.

Institutional Trading of TE Connectivity

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC raised its position in TE Connectivity by 1.6% in the second quarter. Fidelis Capital Partners LLC now owns 3,349 shares of the electronics maker's stock worth $565,000 after acquiring an additional 52 shares in the last quarter. Rossby Financial LCC grew its holdings in TE Connectivity by 6.0% in the second quarter. Rossby Financial LCC now owns 1,000 shares of the electronics maker's stock valued at $169,000 after purchasing an additional 57 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in TE Connectivity by 2.8% in the second quarter. Premier Path Wealth Partners LLC now owns 2,061 shares of the electronics maker's stock valued at $348,000 after purchasing an additional 57 shares during the last quarter. Martingale Asset Management L P grew its holdings in TE Connectivity by 3.6% in the first quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker's stock valued at $255,000 after purchasing an additional 63 shares during the last quarter. Finally, Nelson Capital Management LLC grew its holdings in TE Connectivity by 0.4% in the second quarter. Nelson Capital Management LLC now owns 15,464 shares of the electronics maker's stock valued at $2,608,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds 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.

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