BidaskClub Lowers TE Connectivity Ltd. (NYSE:TEL) to Hold
BidaskClub lowered shares of TE Connectivity Ltd. (NYSE:TEL) from a buy rating to a hold rating in a research report released on Friday.
Other equities research analysts have also issued reports about the stock. Morgan Stanley raised their price objective on shares of TE Connectivity from $85.00 to $87.00 and gave the company an overweight rating in a report on Friday, April 28th. Royal Bank Of Canada restated an outperform rating and issued a $86.00 price objective on shares of TE Connectivity in a report on Tuesday, June 6th. Zacks Investment Research lowered shares of TE Connectivity from a buy rating to a hold rating in a report on Tuesday, June 20th. Finally, Cowen and Company restated an outperform rating and issued a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $83.43.
Shares of TE Connectivity (NYSE TEL) traded up 0.70% during trading on Friday, reaching $80.94. 248,443 shares of the company were exchanged. The stock has a market capitalization of $28.60 billion, a P/E ratio of 17.18 and a beta of 1.06. The firm has a 50-day moving average price of $79.98 and a 200-day moving average price of $76.36. TE Connectivity has a 1-year low of $58.33 and a 1-year high of $85.20.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that TE Connectivity will post $4.74 earnings per share for the current fiscal year.
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In other news, COO Joseph B. Donahue sold 52,575 shares of TE Connectivity stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $80.03, for a total value of $4,207,577.25. Following the sale, the chief operating officer now owns 93,484 shares of the company’s stock, valued at $7,481,524.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 14,000 shares of TE Connectivity stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the completion of the sale, the executive vice president now directly owns 8,823 shares in the company, valued at approximately $667,901.10. The disclosure for this sale can be found here. Insiders have sold a total of 734,107 shares of company stock worth $58,302,629 over the last three months. 1.49% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock valued at $1,699,010,000 after buying an additional 796,516 shares during the period. BlackRock Inc. boosted its stake in shares of TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock valued at $1,282,551,000 after buying an additional 16,287,414 shares during the period. State Street Corp boosted its stake in shares of TE Connectivity by 3.6% in the first quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock valued at $1,032,534,000 after buying an additional 486,340 shares during the period. Boston Partners boosted its stake in shares of TE Connectivity by 1.6% in the first quarter. Boston Partners now owns 11,779,206 shares of the electronics maker’s stock valued at $878,140,000 after buying an additional 187,835 shares during the period. Finally, Fiduciary Management Inc. WI boosted its stake in shares of TE Connectivity by 3.6% in the first quarter. Fiduciary Management Inc. WI now owns 9,616,782 shares of the electronics maker’s stock valued at $716,931,000 after buying an additional 331,080 shares during the period. 90.21% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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