TE Connectivity (NYSE:TEL) Price Target Lowered to $179.00 at The Goldman Sachs Group

TE Connectivity (NYSE:TEL) had its price target lowered by The Goldman Sachs Group from $189.00 to $179.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

TEL has been the topic of a number of other reports. Wells Fargo & Company lowered their price objective on TE Connectivity from $155.00 to $153.00 and set an equal weight rating on the stock in a research note on Friday, September 20th. Wolfe Research upgraded shares of TE Connectivity from a peer perform rating to an outperform rating in a research note on Thursday, September 5th. HSBC lowered shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price objective for the company. in a research note on Wednesday, July 24th. Hsbc Global Res upgraded TE Connectivity to a hold rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an outperform rating in a research report 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. According to data from MarketBeat, TE Connectivity has an average rating of Hold and a consensus price target of $160.42.

TE Connectivity Stock Down 2.3 %

TEL opened at $147.46 on Tuesday. The company’s 50-day moving average price is $148.75 and its two-hundred day moving average price is $147.90. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $159.98. The stock has a market cap of $44.82 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.05 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 earnings per share. As a group, equities analysts expect that TE Connectivity will post 7.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. Insiders have sold 71,363 shares of company stock worth $11,042,161 in the last ninety days. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently modified their holdings of TEL. Salem Investment Counselors Inc. grew its position in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity in the 2nd quarter worth $30,000. Bank & Trust Co bought a new stake in TE Connectivity in the second quarter worth $35,000. Finally, Rise Advisors LLC purchased a new stake in TE Connectivity during the first quarter valued at about $40,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.