TE Connectivity (NYSE:TEL) Given New $165.00 Price Target at Bank of America

TE Connectivity (NYSE:TEL) had its price target reduced by stock analysts at Bank of America from $173.00 to $165.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Bank of America‘s price target would indicate a potential upside of 11.91% from the company’s current price.

TEL has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Truist Financial upped their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $161.82.

TE Connectivity Trading Up 1.0 %

Shares of NYSE TEL traded up $1.45 during midday trading on Wednesday, reaching $147.44. The company had a trading volume of 395,466 shares, compared to its average volume of 1,861,269. TE Connectivity has a one year low of $115.00 and a one year high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $147.76 and its 200-day moving average price is $148.02. The stock has a market cap of $44.81 billion, a PE ratio of 13.50 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $1.77 EPS. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts anticipate that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,363 shares of company stock worth $11,042,161 in the last 90 days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. Point72 Hong Kong Ltd bought a new position in TE Connectivity in the 4th quarter valued at approximately $14,531,000. Baird Financial Group Inc. lifted its position in TE Connectivity by 2.4% in the 4th quarter. Baird Financial Group Inc. now owns 2,209,797 shares of the electronics maker’s stock valued at $310,476,000 after acquiring an additional 52,558 shares in the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of TE Connectivity during the 4th quarter valued at $51,000. V Square Quantitative Management LLC lifted its holdings in shares of TE Connectivity by 323.8% during the 4th quarter. V Square Quantitative Management LLC now owns 6,289 shares of the electronics maker’s stock valued at $884,000 after buying an additional 4,805 shares during the period. Finally, Syon Capital LLC lifted its holdings in shares of TE Connectivity by 10.2% during the 4th quarter. Syon Capital LLC now owns 3,303 shares of the electronics maker’s stock valued at $464,000 after buying an additional 305 shares during the period. 91.43% of the stock is owned by institutional investors.

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.