TE Connectivity (NYSE:TEL) Price Target Raised to $170.00

by · The Cerbat Gem

TE Connectivity (NYSE:TELFree Report) had its price objective lifted by Wells Fargo & Company from $156.00 to $170.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the electronics maker’s stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. The Goldman Sachs Group cut their target price on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group upped their price target on TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Truist Financial cut their price objective on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Finally, HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.90.

View Our Latest Research Report on TE Connectivity

TE Connectivity Stock Up 0.5%

TEL stock opened at $174.29 on Tuesday. TE Connectivity has a twelve month low of $116.30 and a twelve month high of $175.03. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $51.69 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. The business’s 50-day simple moving average is $160.53 and its 200 day simple moving average is $149.64.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. TE Connectivity’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 EPS. On average, research analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.63%. TE Connectivity’s payout ratio is 62.42%.

Insider Buying and Selling at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 13,100 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total value of $2,227,000.00. Following the transaction, the insider directly owned 23,657 shares in the company, valued at $4,021,690. This trade represents a 35.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president directly owned 5,927 shares in the company, valued at $948,320. The trade was a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,775 shares of company stock valued at $29,596,059 over the last three months. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently modified their holdings of the business. SRS Capital Advisors Inc. increased its holdings in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of TE Connectivity in the 1st quarter valued at about $28,000. Millstone Evans Group LLC acquired a new stake in shares of TE Connectivity in the first quarter valued at approximately $32,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in TE Connectivity during the 1st quarter valued at $34,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of TE Connectivity during the 1st quarter worth about $34,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Company Profile

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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.

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