TE Connectivity (NYSE:TEL) Price Target Raised to $198.00 at Wells Fargo & Company

TE Connectivity (NYSE:TEL - Get Free Report) had its price target upped by Wells Fargo & Company from $170.00 to $198.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the electronics maker's stock. Wells Fargo & Company's price objective indicates a potential downside of 2.99% from the company's current price.

A number of other research analysts have also weighed in on the company. Truist Financial raised their price objective on TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research report on Thursday. Robert W. Baird boosted their price target on TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Citigroup upgraded TE Connectivity from a "neutral" rating to a "buy" rating and upped their price target for the stock from $150.00 to $200.00 in a report on Friday, July 11th. Three investment 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 company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average target price of $191.80.

TE Connectivity Price Performance

Shares of TEL traded up $2.07 during midday trading on Thursday, reaching $204.11. The stock had a trading volume of 843,364 shares, compared to its average volume of 1,834,450. The company has a market capitalization of $60.53 billion, a price-to-earnings ratio of 44.86, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23. The company's 50-day moving average is $168.02 and its 200 day moving average is $152.90. 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 has a 12-month low of $116.30 and a 12-month high of $204.44.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. TE Connectivity's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. On average, equities analysts predict that TE Connectivity will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president owned 5,927 shares in the company, valued at $948,320. This represents a 34.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 13,100 shares of TE Connectivity stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total value of $2,227,000.00. Following the sale, the insider owned 23,657 shares in the company, valued at $4,021,690. The trade was a 35.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,775 shares of company stock valued at $29,596,059 in the last ninety days. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds have recently made changes to their positions in TEL. Cambridge Investment Research Advisors Inc. grew its stake in shares of TE Connectivity by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock worth $2,479,000 after acquiring an additional 192 shares during the period. J. Safra Sarasin Holding AG lifted its holdings in TE Connectivity by 128.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after purchasing an additional 8,728 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its holdings in TE Connectivity by 61.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock worth $1,587,000 after purchasing an additional 4,214 shares in the last quarter. NEOS Investment Management LLC lifted its holdings in TE Connectivity by 29.8% during the 4th quarter. NEOS Investment Management LLC now owns 16,254 shares of the electronics maker's stock worth $2,324,000 after purchasing an additional 3,728 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after purchasing an additional 592,072 shares in the last quarter. 91.43% of the stock is currently owned by 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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