Truist Financial Forecasts Strong Price Appreciation for TE Connectivity (NYSE:TEL) Stock

TE Connectivity (NYSE:TEL - Get Free Report) had its price target hoisted by analysts at Truist Financial from $156.00 to $200.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the electronics maker's stock. Truist Financial's price objective suggests a potential downside of 1.88% from the company's previous close.

A number of other research firms have also commented on TEL. UBS Group raised their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on TE Connectivity from $148.00 to $186.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their price objective on TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Robert W. Baird raised their price objective on TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $194.80.

TE Connectivity Stock Up 0.9%

TEL stock traded up $1.78 during mid-day trading on Thursday, reaching $203.82. The company had a trading volume of 1,146,498 shares, compared to its average volume of 1,837,283. 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 stock has a 50 day simple moving average of $168.02 and a two-hundred day simple moving average of $152.90. The company has a market capitalization of $60.44 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 2.23 and a beta of 1.23. TE Connectivity has a 52 week low of $116.30 and a 52 week high of $204.60.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.19. The business 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 firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.91 EPS. As a group, equities analysts predict that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the sale, the insider owned 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the sale, the chief financial officer owned 45,503 shares in the company, valued at $7,244,532.63. This trade represents a 53.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,675 shares of company stock worth $39,794,121. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently made changes to their positions in TEL. Costello Asset Management INC bought a new position in TE Connectivity in the first quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new stake in shares of TE Connectivity during the first quarter valued at approximately $32,000. Ransom Advisory Ltd purchased a new stake in shares of TE Connectivity during the first quarter valued at approximately $34,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of TE Connectivity during the first quarter valued at approximately $34,000. Finally, Dagco Inc. bought a new position in TE Connectivity during the first quarter valued at $35,000. Institutional investors own 91.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.