Brokerages Set TE Connectivity Ltd. (TEL) Target Price at $65.67
Shares of TE Connectivity Ltd. (NYSE:TEL) have been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $65.67.
Several research analysts have recently commented on TEL shares. Zacks Investment Research lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Monday, September 26th. Morgan Stanley reissued a “buy” rating on shares of TE Connectivity in a research note on Tuesday, September 20th. RBC Capital Markets reissued an “outperform” rating and issued a $66.00 price objective (up previously from $65.00) on shares of TE Connectivity in a research note on Thursday, November 3rd. Finally, Royal Bank Of Canada raised their price objective on shares of TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd.
In related news, EVP Robert N. Shaddock sold 11,800 shares of TE Connectivity stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $61.25, for a total value of $722,750.00. Following the completion of the transaction, the executive vice president now owns 46,274 shares in the company, valued at $2,834,282.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Lynch sold 123,633 shares of TE Connectivity stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $63.07, for a total transaction of $7,797,533.31. Following the completion of the transaction, the chief executive officer now owns 507,812 shares of the company’s stock, valued at approximately $32,027,702.84. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TEL. Boston Partners boosted its stake in TE Connectivity by 161.8% in the second quarter. Boston Partners now owns 8,963,462 shares of the company’s stock worth $511,903,000 after buying an additional 5,539,080 shares during the last quarter. LSV Asset Management boosted its stake in TE Connectivity by 2,139.2% in the third quarter. LSV Asset Management now owns 2,203,350 shares of the company’s stock worth $141,851,000 after buying an additional 2,104,950 shares during the last quarter. Factory Mutual Insurance Co. bought a new stake in TE Connectivity during the third quarter worth $59,141,000. River Road Asset Management LLC bought a new stake in TE Connectivity during the second quarter worth $48,729,000. Finally, Alliancebernstein L.P. boosted its stake in TE Connectivity by 132.0% in the second quarter. Alliancebernstein L.P. now owns 1,109,587 shares of the company’s stock worth $63,369,000 after buying an additional 631,412 shares during the last quarter. Institutional investors own 91.56% of the company’s stock.
TE Connectivity (NYSE:TEL) opened at 66.90 on Tuesday. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 9.77 and a beta of 1.20. The firm’s 50-day moving average is $63.33 and its 200-day moving average is $61.05. TE Connectivity has a 52 week low of $51.70 and a 52 week high of $67.99.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The business earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period last year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity will post $4.36 earnings per share for the current year.
About TE Connectivity
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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