TE Connectivity (NYSE:TEL) Given New $179.00 Price Target at The Goldman Sachs Group

TE Connectivity (NYSE:TEL) had its target price decreased by stock analysts at The Goldman Sachs Group from $189.00 to $179.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 21.00% from the company’s current price.

Several other equities research analysts have also issued reports on the company. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research report on Wednesday, July 24th. Vertical Research initiated coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. StockNews.com initiated coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating on the stock. Wells Fargo & Company dropped their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Finally, Robert W. Baird increased their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average target price of $160.42.

TE Connectivity Stock Down 2.0 %

Shares of TEL traded down $3.06 during trading on Tuesday, reaching $147.93. The company’s stock had a trading volume of 749,911 shares, compared to its average volume of 1,875,506. The company has a fifty day moving average of $148.82 and a two-hundred day moving average of $147.84. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $159.98. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 2.05 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company posted $1.77 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that TE Connectivity will post 7.57 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the firm’s 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated 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 transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors have recently bought and sold shares of TEL. Salem Investment Counselors Inc. boosted its position in TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Versant Capital Management Inc boosted its position in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity during the 2nd quarter worth about $30,000. Bank & Trust Co acquired a new stake in TE Connectivity during the 2nd quarter worth about $35,000. Finally, Rise Advisors LLC acquired a new stake in TE Connectivity during the 1st quarter worth about $40,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.