The Goldman Sachs Group Cuts TE Connectivity (NYSE:TEL) Price Target to $179.00

TE Connectivity (NYSE:TEL) had its price objective reduced by The Goldman Sachs Group from $189.00 to $179.00 in a research note published on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the electronics maker’s stock.

Other equities research analysts have also recently issued research reports about the company. HSBC cut TE Connectivity from a buy rating to a hold rating and set a $162.00 target price for the company. in a research note on Wednesday, July 24th. Vertical Research started coverage on TE Connectivity in a research note on Tuesday, July 23rd. They set a hold rating and a $155.00 target price for the company. StockNews.com started coverage on TE Connectivity in a research note on Sunday, September 29th. They set a buy rating for the company. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Finally, Truist Financial boosted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a hold rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $160.42.

TE Connectivity Stock Performance

Shares of TEL opened at $144.68 on Tuesday. The stock has a 50-day simple moving average of $148.34 and a 200-day simple moving average of $147.87. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The stock has a market capitalization of $43.97 billion, a PE ratio of 13.24, a PEG ratio of 2.05 and a beta of 1.33. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 EPS. On average, analysts predict that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,363 shares of company stock valued at $11,042,161. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Simplicity Wealth LLC grew its holdings in TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in TE Connectivity by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after purchasing an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after purchasing an additional 69 shares during the last quarter. Manchester Capital Management LLC grew its holdings in TE Connectivity by 5.4% in the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 73 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in TE Connectivity by 0.6% in the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Company Profile

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.