TE Connectivity (NYSE:TEL) Price Target Lowered to $165.00 at Bank of America

TE Connectivity (NYSE:TEL) had its price target lowered by Bank of America from $173.00 to $165.00 in a research report report published on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the electronics maker’s stock.

TEL has been the subject of several other research reports. Truist Financial lifted 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. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Wolfe Research upgraded shares of TE Connectivity from a peer perform rating to an outperform rating in a report on Thursday, September 5th. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a buy rating for the company in a research note on Tuesday, October 1st. Finally, Vertical Research initiated coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a hold rating and a $155.00 price target on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of Hold and a consensus price target of $161.82.

TE Connectivity Price Performance

TEL opened at $147.51 on Wednesday. The stock’s 50-day moving average price is $147.59 and its 200 day moving average price is $148.09. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. The firm has a market cap of $44.83 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.89 and a beta of 1.33.

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

Insider Buying and Selling

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently modified their holdings of the stock. Creative Planning increased its stake in TE Connectivity by 3.0% in the 3rd quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock valued at $6,345,000 after buying an additional 1,237 shares during the period. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in TE Connectivity in the third quarter valued at about $235,000. Carnegie Investment Counsel lifted its position in TE Connectivity by 2.5% in the third quarter. Carnegie Investment Counsel now owns 114,128 shares of the electronics maker’s stock valued at $17,233,000 after purchasing an additional 2,742 shares during the period. Finally, Asio Capital LLC boosted its holdings in TE Connectivity by 8.2% in the 3rd quarter. Asio Capital LLC now owns 23,892 shares of the electronics maker’s stock valued at $3,607,000 after purchasing an additional 1,809 shares in the last quarter. Hedge funds and other institutional investors 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.