TE Connectivity Ltd. (NYSE:TEL) Receives $161.82 Average Price Target from Analysts

TE Connectivity Ltd. (NYSE:TEL) has been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $161.82.

A number of brokerages have recently weighed in on TEL. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective for the company. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Wednesday, October 23rd. They issued a “buy” rating for the company. Finally, HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a research note on Wednesday, July 24th.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $150.87 on Friday. The firm has a fifty day simple moving average of $148.03 and a 200-day simple moving average of $148.31. 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 $115.16 and a 1-year high of $159.98. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.92 and a beta of 1.33.

Insider Transactions at TE Connectivity

In other news, SVP Robert J. Ott sold 2,913 shares of the firm’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 transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity 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 transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Several institutional investors have recently added to or reduced their stakes in TEL. Price T Rowe Associates Inc. MD lifted its holdings in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. increased its position in TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. increased its position in TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after acquiring an additional 506,754 shares in the last quarter. Bank of Montreal Can increased its position in TE Connectivity by 43.0% in the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after acquiring an additional 347,315 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in TE Connectivity by 141.3% in the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after acquiring an additional 274,206 shares in the last quarter. 91.43% of the stock is owned by 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.