TE Connectivity (TEL) PT Lowered to $96.00

TE Connectivity (NYSE:TEL) had its price objective cut by equities researchers at Royal Bank of Canada to $96.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “positive” rating on the electronics maker’s stock. Royal Bank of Canada’s target price points to a potential upside of 27.29% from the stock’s current price. The analysts noted that the move was a valuation call.

Other equities research analysts also recently issued reports about the stock. SunTrust Banks reiterated a “hold” rating and issued a $82.00 price target on shares of TE Connectivity in a research report on Wednesday. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. Robert W. Baird downgraded shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research report on Monday, October 1st. Wells Fargo & Co dropped their price target on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. Finally, Macquarie initiated coverage on shares of TE Connectivity in a research report on Monday, October 8th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. TE Connectivity has a consensus rating of “Buy” and a consensus target price of $108.00.

NYSE TEL opened at $75.42 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.98. TE Connectivity has a 1-year low of $73.70 and a 1-year high of $108.23. The company has a market capitalization of $27.24 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.01.



TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. TE Connectivity had a net margin of 9.26% and a return on equity of 20.33%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity will post 5.59 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia increased its stake in TE Connectivity by 2.2% in the second quarter. Commonwealth Bank of Australia now owns 40,187 shares of the electronics maker’s stock valued at $3,614,000 after acquiring an additional 879 shares during the last quarter. HPM Partners LLC increased its stake in TE Connectivity by 43.5% in the second quarter. HPM Partners LLC now owns 5,697 shares of the electronics maker’s stock valued at $513,000 after acquiring an additional 1,728 shares during the last quarter. AMP Capital Investors Ltd increased its stake in TE Connectivity by 7.9% in the second quarter. AMP Capital Investors Ltd now owns 169,363 shares of the electronics maker’s stock valued at $15,254,000 after acquiring an additional 12,364 shares during the last quarter. Bridgewater Associates LP increased its stake in TE Connectivity by 758.6% in the second quarter. Bridgewater Associates LP now owns 262,904 shares of the electronics maker’s stock valued at $23,677,000 after acquiring an additional 232,285 shares during the last quarter. Finally, Comerica Bank increased its stake in TE Connectivity by 13.0% in the second quarter. Comerica Bank now owns 276,998 shares of the electronics maker’s stock valued at $25,578,000 after acquiring an additional 31,812 shares during the last quarter. 88.01% of the stock is currently owned by institutional investors and hedge funds.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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The Fly

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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