TE Connectivity (NYSE:TEL - Get Free Report) had its price target hoisted by equities research analysts at Citigroup from $200.00 to $230.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the electronics maker's stock. Citigroup's target price would suggest a potential upside of 12.75% from the company's previous close.
Several other research firms have also commented on TEL. Wells Fargo & Company upped their target price on TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday. Truist Financial upped their target price on TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday. UBS Group upped their target price on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TE Connectivity has an average rating of "Moderate Buy" and an average target price of $194.80.
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TE Connectivity Price Performance
TEL traded up $1.95 during trading on Thursday, reaching $203.99. 1,357,292 shares of the stock were exchanged, compared to its average volume of 1,838,190. The business's 50 day moving average price is $168.02 and its two-hundred day moving average price is $152.90. 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 company has a market capitalization of $60.49 billion, a price-to-earnings ratio of 44.82, a P/E/G ratio of 2.23 and a beta of 1.23. TE Connectivity has a 1 year low of $116.30 and a 1 year high of $204.60.
TE Connectivity (NYSE:TEL - Get Free Report) last issued 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. 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 for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business earned $1.91 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.
Insider Activity at TE Connectivity
In related news, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president owned 24,625 shares of the company's stock, valued at approximately $3,678,728.75. This trade represents a 54.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Aaron Kyle Stucki sold 52,900 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total value of $10,198,062.00. Following the completion of the sale, the insider directly owned 23,667 shares in the company, valued at approximately $4,562,524.26. This trade represents a 69.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,675 shares of company stock worth $39,794,121 over the last quarter. 0.90% of the stock is owned by corporate insiders.
Institutional Trading of TE Connectivity
Large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its position in TE Connectivity by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock valued at $2,479,000 after acquiring an additional 192 shares during the period. J. Safra Sarasin Holding AG increased its position in shares of 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 valued at $2,219,000 after purchasing an additional 8,728 shares during the period. Beverly Hills Private Wealth LLC increased its position in shares of 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 valued at $1,587,000 after purchasing an additional 4,214 shares during the period. NEOS Investment Management LLC increased its position in shares of TE Connectivity by 29.8% during the 4th quarter. NEOS Investment Management LLC now owns 16,254 shares of the electronics maker's stock valued at $2,324,000 after purchasing an additional 3,728 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after purchasing an additional 592,072 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.
About TE Connectivity
(
Get Free Report)
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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