TE Connectivity (NYSE:TEL) Price Target Cut to $150.00 by Analysts at Wells Fargo & Company

TE Connectivity (NYSE:TEL) had its target price lowered by equities research analysts at Wells Fargo & Company from $152.00 to $150.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target points to a potential upside of 1.47% from the company’s previous close.

A number of other analysts also recently weighed in on TEL. Jefferies Financial Group started coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Robert W. Baird decreased their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, StockNews.com started coverage on TE Connectivity in a report on Tuesday. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.13.

TE Connectivity Stock Down 1.1 %

Shares of TEL opened at $147.83 on Tuesday. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $153.54. The stock has a market capitalization of $45.27 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The stock has a fifty day moving average of $147.23 and a 200-day moving average of $142.97.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company earned $1.65 EPS. TE Connectivity’s revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity will post 7.5 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently modified their holdings of TEL. JFS Wealth Advisors LLC increased its stake in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in shares of TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth approximately $30,000. Finally, Godsey & Gibb Inc. increased its stake in shares of TE Connectivity by 103.6% during the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares during the last quarter. 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.