TE Connectivity (NYSE:TEL) Price Target Lowered to $170.00 at The Goldman Sachs Group

TE Connectivity (NYSE:TEL) had its price target reduced by The Goldman Sachs Group from $190.00 to $170.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

Several other equities analysts have also commented on the stock. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $163.60.

TE Connectivity Trading Down 4.8 %

Shares of TE Connectivity stock opened at $127.42 on Thursday. TE Connectivity has a twelve month low of $116.30 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $145.12 and a 200-day moving average price of $147.18. The firm has a market cap of $38.01 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. Equities research analysts anticipate that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.23%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently made changes to their positions in TEL. Vanguard Group Inc. raised its position in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $909,598,000. Geode Capital Management LLC lifted its position in TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after acquiring an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in TE Connectivity by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock valued at $801,101,000 after acquiring an additional 592,072 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

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.