TE Connectivity Ltd. (TEL) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of TE Connectivity Ltd. (NYSE:TEL) from a sell rating to a buy rating in a report released on Thursday morning. They currently have $103.00 price objective on the electronics maker’s stock.
According to Zacks, “TE Connectivity reported fourth-quarter fiscal 2017 earnings per share of $1.25 cents, which topped the Zacks Consensus Estimate by 7.8%, owing to the decent top-line performance. TE Connectivity has a striking earnings surprise history over the four trailing quarters, beating estimates all through. Moreover, the stock has outperformed the industry average in a year. It expects transportation business to experience significant organic growth, fueled by rise in global auto production and impressive heavy truck business in key end markets. Further, its Communications and Industrial segments are witnessing strong performance, thus stoking growth. However, sluggish industrial markets and derivative impact of lower oil prices are posing as major headwinds, thwarting growth. Moreover, adverse currency fluctuations and high restructuring expenses might hurt the company’s performance.”
Several other equities analysts have also weighed in on TEL. Royal Bank Of Canada cut their target price on shares of TE Connectivity from $100.00 to $95.00 and set an outperform rating for the company in a report on Thursday. BidaskClub lowered shares of TE Connectivity from a buy rating to a hold rating in a report on Friday, August 4th. Cowen and Company reaffirmed a buy rating and set a $95.00 target price on shares of TE Connectivity in a report on Thursday, August 10th. SunTrust Banks, Inc. lifted their target price on shares of TE Connectivity to $90.00 and gave the company a hold rating in a report on Thursday. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $87.00 target price on shares of TE Connectivity in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. TE Connectivity currently has a consensus rating of Buy and a consensus target price of $93.50.
Shares of TE Connectivity (NYSE TEL) opened at $92.73 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54. The company has a market cap of $32,769.31, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. TE Connectivity has a 12 month low of $62.22 and a 12 month high of $93.11.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. equities research analysts predict that TE Connectivity will post 5.27 earnings per share for the current year.
In other news, insider Thomas J. Lynch sold 130,616 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the completion of the sale, the insider now owns 429,499 shares of the company’s stock, valued at $35,807,331.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas J. Lynch sold 186,033 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the sale, the insider now directly owns 298,851 shares of the company’s stock, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. In the last three months, insiders sold 447,266 shares of company stock valued at $37,564,038. 1.49% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its holdings in shares of TE Connectivity by 4.6% during the second quarter. Prudential Financial Inc. now owns 511,865 shares of the electronics maker’s stock worth $40,273,000 after buying an additional 22,478 shares in the last quarter. Calamos Advisors LLC grew its holdings in shares of TE Connectivity by 2.7% during the second quarter. Calamos Advisors LLC now owns 57,157 shares of the electronics maker’s stock worth $4,497,000 after buying an additional 1,512 shares in the last quarter. Swiss National Bank boosted its position in shares of TE Connectivity by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,297,509 shares of the electronics maker’s stock valued at $102,088,000 after acquiring an additional 38,400 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of TE Connectivity by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after acquiring an additional 521,884 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its position in shares of TE Connectivity by 5.0% during the 2nd quarter. Atlantic Trust Group LLC now owns 177,785 shares of the electronics maker’s stock valued at $13,989,000 after acquiring an additional 8,438 shares during the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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