TE Connectivity (NYSE:TEL) PT Lowered to $179.00

TE Connectivity (NYSE:TEL - Get Free Report) had its target price cut by equities research analysts at The Goldman Sachs Group from $189.00 to $179.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the electronics maker's stock. The Goldman Sachs Group's target price indicates a potential upside of 21.39% from the company's current price.

A number of other analysts also recently commented on TEL. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. HSBC cut shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $162.00 price objective on the stock. in a research note on Wednesday, July 24th. Hsbc Global Res upgraded shares of TE Connectivity to a "hold" rating in a research note on Wednesday, July 24th. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. Finally, Truist Financial raised their target price on TE Connectivity from $151.00 to $156.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $160.42.

TE Connectivity Stock Performance

Shares of NYSE TEL traded down $3.53 during midday trading on Tuesday, reaching $147.46. The company had a trading volume of 1,734,152 shares, compared to its average volume of 1,880,723. The stock has a market cap of $44.82 billion, a P/E ratio of 13.49, a P/E/G ratio of 2.05 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $159.98. The business's 50-day simple moving average is $148.75 and its 200 day simple moving average is $147.90.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results 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. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $1.77 EPS. The company's quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were 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 of the company's stock, valued at approximately $3,942,663.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares of the company's stock, valued at approximately $3,942,663.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business'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 directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,363 shares of company stock valued at $11,042,161. Corporate insiders own 0.86% of the company's stock.

Institutional Trading of TE Connectivity

Institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its position in TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker's stock valued at $27,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc raised its holdings in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in TE Connectivity in the second quarter valued at about $30,000. Bank & Trust Co acquired a new stake in shares of TE Connectivity during the second quarter valued at about $35,000. Finally, Rise Advisors LLC purchased a new stake in shares of TE Connectivity in the 1st quarter valued at approximately $40,000. 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.