Robert W. Baird Cuts TE Connectivity (NYSE:TEL) Price Target to $147.00

TE Connectivity (NYSE:TEL - Get Free Report) had its price target reduced by stock analysts at Robert W. Baird from $150.00 to $147.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the electronics maker's stock. Robert W. Baird's target price suggests a potential upside of 13.75% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Finally, HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of "Hold" and an average target price of $156.90.

TE Connectivity Price Performance

Shares of TEL traded up $2.33 during mid-day trading on Tuesday, reaching $129.23. The stock had a trading volume of 2,517,669 shares, compared to its average volume of 1,714,609. The business has a fifty day moving average of $142.92 and a 200 day moving average of $146.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market cap of $38.56 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity has a 12 month low of $116.30 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for 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 business's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. Equities analysts predict that TE Connectivity will post 8.05 EPS for the current year.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in TE Connectivity in the fourth quarter worth about $2,920,000. Meyer Handelman Co. raised its stake in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after buying an additional 9,175 shares in the last quarter. abrdn plc bought a new stake in TE Connectivity during the 4th quarter valued at $15,739,000. Truist Financial Corp raised its position in shares of TE Connectivity by 32.8% in the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after acquiring an additional 31,991 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its position in TE Connectivity by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker's stock valued at $17,019,000 after purchasing an additional 4,913 shares in 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.