Wells Fargo & Company Trims TE Connectivity (NYSE:TEL) Target Price to $153.00

TE Connectivity (NYSE:TEL) had its price objective reduced by equities researchers at Wells Fargo & Company from $155.00 to $153.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 3.71% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Vertical Research initiated coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. StockNews.com assumed coverage on TE Connectivity in a research note on Friday, September 13th. They set a “buy” rating for the company. Finally, Robert W. Baird upped their target price 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 issued a buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and an average price target of $158.73.

TE Connectivity Stock Down 1.2 %

Shares of TE Connectivity stock traded down $1.85 during trading on Friday, hitting $147.53. 365,232 shares of the stock were exchanged, compared to its average volume of 1,878,744. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The firm’s 50-day moving average price is $149.74 and its 200 day moving average price is $147.36.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion for 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%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 earnings per share. As a group, analysts forecast that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value 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 approximately $3,186,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, 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. In the last quarter, insiders have sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of TE Connectivity

A number of institutional investors and hedge funds have recently modified their holdings of TEL. Price T Rowe Associates Inc. MD boosted its holdings in TE Connectivity by 54.9% during the first 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 acquiring an additional 5,526,230 shares during the period. Ameriprise Financial Inc. grew its holdings 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 buying an additional 1,304,199 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. Dimensional Fund Advisors LP increased its stake in TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after acquiring an additional 223,842 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in TE Connectivity by 9.3% during the first quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock valued at $406,459,000 after purchasing an additional 238,370 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.