TE Connectivity Ltd. (NYSE:TEL) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of TE Connectivity Ltd. (NYSE:TEL) from a buy rating to a hold rating in a research note published on Friday morning.
Several other research analysts also recently commented on TEL. Zacks Investment Research downgraded TE Connectivity from a buy rating to a hold rating in a research note on Tuesday, June 6th. Cowen and Company reissued an outperform rating and set a $95.00 target price (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, June 5th. Finally, Royal Bank Of Canada boosted their target price on TE Connectivity from $86.00 to $87.00 and gave the stock an outperform rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $83.43.
Shares of TE Connectivity (NYSE TEL) opened at 80.90 on Friday. TE Connectivity has a one year low of $58.33 and a one year high of $85.20. The company has a market cap of $28.59 billion, a price-to-earnings ratio of 17.18 and a beta of 1.06. The firm’s 50-day moving average is $79.98 and its 200-day moving average is $76.36.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.07. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. TE Connectivity’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Analysts expect that TE Connectivity will post $4.74 EPS for the current fiscal year.
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In other news, EVP John S. Jenkins sold 14,000 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the sale, the executive vice president now directly owns 8,823 shares in the company, valued at $667,901.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas J. Lynch sold 186,034 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $78.65, for a total value of $14,631,574.10. Following the sale, the insider now owns 504,885 shares in the company, valued at $39,709,205.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 734,107 shares of company stock valued at $58,302,629. Insiders own 1.49% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock valued at $1,282,551,000 after buying an additional 16,287,414 shares during the period. First Eagle Investment Management LLC boosted its stake in TE Connectivity by 112,210.6% in the second quarter. First Eagle Investment Management LLC now owns 1,684,659 shares of the electronics maker’s stock valued at $132,549,000 after buying an additional 1,683,159 shares during the period. UBS Asset Management Americas Inc. boosted its stake in TE Connectivity by 234,499.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,616,388 shares of the electronics maker’s stock valued at $120,502,000 after buying an additional 1,615,699 shares during the period. Wedge Capital Management L L P NC purchased a new stake in TE Connectivity during the first quarter valued at $61,260,000. Finally, Vanguard Group Inc. boosted its stake in TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock valued at $1,699,010,000 after buying an additional 796,516 shares during the period. Institutional investors own 90.21% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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