TE Connectivity (NYSE:TEL) Price Target Cut to $146.00 by Analysts at JPMorgan Chase & Co.

TE Connectivity (NYSE:TEL) had its price target cut by stock analysts at JPMorgan Chase & Co. from $169.00 to $146.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.72% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. UBS Group cut their target price on TE Connectivity from $188.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Robert W. Baird dropped their target price on shares of TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Citigroup dropped their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $156.90.

TE Connectivity Stock Up 1.2 %

NYSE TEL traded up $1.49 during trading on Thursday, reaching $128.39. 513,625 shares of the company’s stock were exchanged, compared to its average volume of 1,709,717. The company’s fifty day simple moving average is $143.72 and its 200-day simple moving average is $146.63. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The firm has a market capitalization of $38.30 billion, a PE ratio of 20.46, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. Sell-side analysts predict that TE Connectivity will post 8.05 EPS for the current year.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s 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 completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently made changes to their positions in TEL. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity in the 4th quarter valued at approximately $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.