Robert W. Baird Issues Positive Forecast for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL - Get Free Report) had its price objective hoisted by analysts at Robert W. Baird from $185.00 to $210.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the electronics maker's stock. Robert W. Baird's price target indicates a potential upside of 2.98% from the company's current price.

A number of other research analysts have also recently commented on TEL. Bank of America upped their price objective on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Truist Financial decreased their price target on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. UBS Group upped their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.

TE Connectivity Stock Performance

Shares of NYSE TEL traded up $1.88 during trading on Thursday, reaching $203.92. 1,146,498 shares of the company traded hands, compared to its average volume of 1,837,283. The firm's fifty day simple moving average is $168.02 and its 200 day simple moving average is $152.90. The stock has a market cap of $60.47 billion, a P/E ratio of 44.63, a PEG ratio of 2.23 and a beta of 1.23. TE Connectivity has a 12-month low of $116.30 and a 12-month high of $204.60. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

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 for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $1.91 EPS. The company's revenue was up 13.9% on a year-over-year basis. As a group, research analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the completion of the transaction, the insider directly owned 23,667 shares in the company, valued at $4,562,524.26. The trade was a 69.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity 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 transaction, the chief financial officer owned 45,503 shares of the company's stock, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,675 shares of company stock worth $39,794,121. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of TEL. Costello Asset Management INC purchased a new stake in shares of TE Connectivity during the 1st quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in shares of TE Connectivity during the 1st quarter valued at $32,000. Ransom Advisory Ltd purchased a new stake in shares of TE Connectivity during the 1st quarter valued at $34,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of TE Connectivity during the 1st quarter valued at $34,000. Finally, Dagco Inc. purchased a new stake in shares of TE Connectivity during the 1st quarter valued at $35,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

About TE Connectivity

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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