TE Connectivity (TEL) Stock Rating Reaffirmed by Cowen
TE Connectivity (NYSE:TEL)‘s stock had its “outperform” rating reaffirmed by equities researchers at Cowen in a research note issued to investors on Thursday. They presently have a $110.00 target price on the electronics maker’s stock, up from their previous target price of $95.00. Cowen’s target price indicates a potential upside of 16.01% from the company’s current price.
Several other research firms have also issued reports on TEL. Wells Fargo & Company began coverage on TE Connectivity in a research note on Friday, November 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and issued a $98.00 price objective on shares of TE Connectivity in a research note on Friday, November 3rd. Royal Bank Of Canada dropped their price objective on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. SunTrust Banks upped their price objective on TE Connectivity to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. TE Connectivity has a consensus rating of “Buy” and an average target price of $151.07.
TE Connectivity (NYSE:TEL) opened at $94.82 on Thursday. TE Connectivity has a 52-week low of $66.20 and a 52-week high of $96.68. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $32,449.08, a P/E ratio of 19.11, a P/E/G ratio of 1.61 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. equities analysts predict that TE Connectivity will post 5.27 EPS for the current fiscal year.
TE Connectivity declared that its Board of Directors has authorized a share buyback program on Friday, December 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, insider Thomas J. Lynch sold 130,617 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the transaction, the insider now owns 429,500 shares in the company, valued at $39,209,055. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas J. Lynch sold 130,616 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total value of $10,889,455.92. Following the transaction, the insider now owns 429,499 shares in the company, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 759,805 shares of company stock worth $69,542,539. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in TE Connectivity by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after acquiring an additional 521,884 shares during the period. Boston Partners increased its stake in TE Connectivity by 8.1% during the 3rd quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after acquiring an additional 934,796 shares during the period. Janus Henderson Group PLC increased its stake in TE Connectivity by 17.7% during the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after acquiring an additional 1,239,920 shares during the period. FMR LLC increased its stake in TE Connectivity by 9.7% during the 2nd quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after acquiring an additional 472,037 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in TE Connectivity by 9.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock worth $315,955,000 after acquiring an additional 346,093 shares during the period. Hedge funds and other institutional investors own 90.22% of the company’s stock.
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TE Connectivity Company Profile
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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