UBS Group initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $130.00 price target on the electronics maker’s stock. UBS Group’s price objective points to a potential upside of 27.61% from the stock’s current price.
Several other research firms have also commented on TEL. Robert W. Baird raised TE Connectivity from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $76.00 to $97.00 in a report on Monday, June 1st. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, July 16th. Citigroup increased their price target on TE Connectivity from $75.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Oppenheimer increased their price target on TE Connectivity from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley increased their price target on TE Connectivity from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. TE Connectivity has a consensus rating of “Buy” and a consensus target price of $98.00.
Shares of TEL stock opened at $101.87 on Tuesday. The stock’s 50-day simple moving average is $94.85 and its 200-day simple moving average is $80.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.43. The firm has a market capitalization of $33.62 billion, a PE ratio of -328.61, a P/E/G ratio of 2.40 and a beta of 1.38. TE Connectivity has a fifty-two week low of $48.62 and a fifty-two week high of $103.20.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 29th. The electronics maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.41 by $0.18. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. TE Connectivity’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the company earned $1.50 earnings per share. Sell-side analysts forecast that TE Connectivity will post 3.91 earnings per share for the current year.
In related news, SVP Mario Calastri sold 10,757 shares of TE Connectivity stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $94.60, for a total transaction of $1,017,612.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Resch sold 53,100 shares of TE Connectivity stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $96.00, for a total value of $5,097,600.00. Following the transaction, the senior vice president now owns 67,910 shares in the company, valued at approximately $6,519,360. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,270 shares of company stock worth $11,147,920. Company insiders own 0.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Gemmer Asset Management LLC purchased a new position in TE Connectivity during the second quarter worth approximately $26,000. WASHINGTON TRUST Co acquired a new stake in TE Connectivity during the first quarter worth $35,000. Balentine LLC acquired a new stake in TE Connectivity during the first quarter worth $44,000. AIA Investment Management Private Ltd acquired a new stake in TE Connectivity during the first quarter worth $61,000. Finally, CKW Financial Group increased its stake in TE Connectivity by 13.6% during the second quarter. CKW Financial Group now owns 1,250 shares of the electronics maker’s stock worth $100,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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