JPMorgan Chase & Co. Issues Positive Forecast for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL - Get Free Report) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $186.00 to $204.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the electronics maker's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 0.38% from the company's previous close.

Other equities analysts have also issued research reports about the stock. UBS Group lifted their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a report on Monday, July 14th. Truist Financial increased their target price on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday. Bank of America lifted their price target on shares of TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of TE Connectivity from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of "Moderate Buy" and an average target price of $191.80.

TE Connectivity Stock Performance

TE Connectivity stock traded up $1.19 during mid-day trading on Thursday, reaching $203.23. 978,295 shares of the stock traded hands, compared to its average volume of 1,836,227. The stock has a market capitalization of $60.27 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. The business's 50-day moving average is $168.02 and its 200-day moving average is $152.90. TE Connectivity has a 12-month low of $116.30 and a 12-month high of $204.60.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. As a group, sell-side analysts predict that TE Connectivity will post 8.05 EPS for the current fiscal year.

Insider Activity

In related news, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer owned 45,503 shares in the company, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the transaction, the senior vice president directly owned 5,927 shares in the company, valued at $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock valued at $29,596,059 in the last 90 days. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of TE Connectivity by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock valued at $5,353,401,000 after buying an additional 5,502,415 shares in the last quarter. Dodge & Cox grew its holdings in shares of TE Connectivity by 0.4% during the 1st quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker's stock valued at $2,264,297,000 after purchasing an additional 56,871 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of TE Connectivity by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker's stock valued at $1,054,133,000 after purchasing an additional 1,097,035 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in TE Connectivity by 17.1% during the 1st quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker's stock worth $927,571,000 after acquiring an additional 960,276 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after acquiring an additional 33,340 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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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