TE Connectivity (NYSE:TEL) Given New $153.00 Price Target at Wells Fargo & Company

TE Connectivity (NYSE:TEL) had its price target reduced by equities researchers at Wells Fargo & Company from $155.00 to $153.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.71% from the company’s previous close.

Several other analysts have also commented on the company. Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a research report on Wednesday, July 24th. Finally, Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.73.

TE Connectivity Stock Down 1.2 %

NYSE:TEL traded down $1.85 during mid-day trading on Friday, hitting $147.53. 365,232 shares of the company’s stock were exchanged, compared to its average volume of 1,878,744. TE Connectivity has a one year low of $115.00 and a one year high of $159.98. The business has a fifty day moving average price of $149.74 and a 200 day moving average price of $147.36. The company has a market cap of $44.84 billion, a PE ratio of 13.50, a P/E/G ratio of 1.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99.

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

Insider Activity

In other news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly 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 through this link. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders have sold a total of 71,363 shares of company stock worth $11,042,161 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

Hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in TE Connectivity by 2.8% in the fourth quarter. D.A. Davidson & CO. now owns 17,070 shares of the electronics maker’s stock valued at $2,398,000 after acquiring an additional 466 shares during the last quarter. Assetmark Inc. increased its position in shares of TE Connectivity by 39.1% during the 4th quarter. Assetmark Inc. now owns 11,135 shares of the electronics maker’s stock worth $1,564,000 after purchasing an additional 3,130 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its position in TE Connectivity by 60.4% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 13,282 shares of the electronics maker’s stock valued at $1,866,000 after buying an additional 5,000 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in TE Connectivity by 16.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,020 shares of the electronics maker’s stock worth $143,000 after buying an additional 141 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of TE Connectivity by 273.5% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 14,046 shares of the electronics maker’s stock valued at $1,973,000 after acquiring an additional 10,285 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

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.