Wells Fargo & Company Cuts TE Connectivity (NYSE:TEL) Price Target to $153.00

TE Connectivity (NYSE:TEL) had its price target decreased by Wells Fargo & Company from $155.00 to $153.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the electronics maker’s stock.

Several other brokerages also recently issued reports on TEL. Vertical Research started coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a hold rating and a $155.00 price objective for the company. Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a hold rating in a research note on Thursday, July 25th. Wolfe Research raised TE Connectivity from a peer perform rating to an outperform rating in a research report on Thursday, September 5th. Hsbc Global Res raised shares of TE Connectivity to a hold rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of Hold and a consensus price target of $158.73.

TE Connectivity Trading Down 0.9 %

Shares of TEL opened at $148.11 on Friday. The company’s fifty day moving average is $149.59 and its 200 day moving average is $147.49. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The stock has a market capitalization of $45.36 billion, a PE ratio of 13.55, 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 quick ratio of 0.99 and a current ratio of 1.51.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. Sell-side analysts expect that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following 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 available at the SEC website. In other news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,363 shares of company stock valued at $11,042,161. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in TE Connectivity by 2.8% in the 4th quarter. D.A. Davidson & CO. now owns 17,070 shares of the electronics maker’s stock worth $2,398,000 after purchasing an additional 466 shares in the last quarter. Assetmark Inc. boosted its stake in TE Connectivity by 39.1% in 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 in the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in TE Connectivity by 60.4% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 13,282 shares of the electronics maker’s stock worth $1,866,000 after purchasing an additional 5,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in TE Connectivity by 16.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,020 shares of the electronics maker’s stock valued at $143,000 after acquiring an additional 141 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its stake in TE Connectivity by 273.5% during 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. Hedge funds and other institutional investors 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.