TE Connectivity Ltd. (TEL) Given Consensus Recommendation of “Hold” by Brokerages
TE Connectivity Ltd. (NYSE:TEL) has received an average recommendation of “Hold” from the seven ratings firms that are covering the company. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $65.25.
TEL has been the subject of several analyst reports. Morgan Stanley restated a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Royal Bank Of Canada lifted their price target on shares of TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $66.00 price target (up from $65.00) on shares of TE Connectivity in a report on Thursday, November 3rd. Finally, Goldman Sachs Group, Inc. (The) lowered shares of TE Connectivity from a “neutral” rating to a “sell” rating and lifted their price target for the company from $63.00 to $64.00 in a report on Wednesday, January 4th.
Shares of TE Connectivity (NYSE:TEL) traded up 0.72% during trading on Friday, reaching $69.65. 537,830 shares of the company traded hands. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 12.79 and a beta of 1.19. TE Connectivity has a 12-month low of $51.70 and a 12-month high of $71.87. The company has a 50 day moving average price of $69.34 and a 200 day moving average price of $63.72.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 2nd. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The company earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.62 billion. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. On average, equities analysts predict that TE Connectivity will post $4.36 EPS for the current year.
In other TE Connectivity news, CEO Thomas J. Lynch sold 123,633 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $68.87, for a total transaction of $8,514,604.71. Following the sale, the chief executive officer now directly owns 462,388 shares of the company’s stock, valued at approximately $31,844,661.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven T. Merkt sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $66.64, for a total transaction of $666,400.00. Following the sale, the insider now directly owns 14,717 shares in the company, valued at $980,740.88. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. HL Financial Services LLC raised its stake in TE Connectivity by 4.1% in the second quarter. HL Financial Services LLC now owns 1,257,346 shares of the company’s stock worth $71,807,000 after buying an additional 49,697 shares during the last quarter. BB&T Corp raised its stake in TE Connectivity by 1,159.1% in the second quarter. BB&T Corp now owns 300,055 shares of the company’s stock worth $17,137,000 after buying an additional 276,224 shares during the last quarter. John G Ullman & Associates Inc. raised its stake in TE Connectivity by 7.3% in the third quarter. John G Ullman & Associates Inc. now owns 137,300 shares of the company’s stock worth $8,839,000 after buying an additional 9,400 shares during the last quarter. Todd Asset Management LLC raised its stake in TE Connectivity by 29.7% in the second quarter. Todd Asset Management LLC now owns 724,333 shares of the company’s stock worth $41,366,000 after buying an additional 165,815 shares during the last quarter. Finally, PGGM Investments raised its stake in TE Connectivity by 76.3% in the second quarter. PGGM Investments now owns 751,144 shares of the company’s stock worth $42,898,000 after buying an additional 325,170 shares during the last quarter. 89.95% of the stock is currently owned by hedge funds and other institutional investors.
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About TE Connectivity
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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