UBS Group Issues Positive Forecast for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL) had its price objective raised by equities researchers at UBS Group from $185.00 to $201.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. UBS Group’s price objective indicates a potential upside of 13.96% from the company’s previous close.

A number of other equities analysts have also commented on the company. Vertical Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. Citigroup upgraded TE Connectivity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $200.00 in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Friday. HSBC upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $156.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.30.

TE Connectivity Trading Down 0.4%

Shares of TE Connectivity stock traded down $0.73 during midday trading on Monday, reaching $176.39. The company had a trading volume of 213,682 shares, compared to its average volume of 1,708,140. The stock has a fifty day moving average price of $163.83 and a 200 day moving average price of $150.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. The firm has a market cap of $52.31 billion, a PE ratio of 38.70, a P/E/G ratio of 2.19 and a beta of 1.23. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $178.10.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. On average, equities analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

Insiders Place Their Bets

In other TE Connectivity news, insider Aaron Kyle Stucki sold 13,100 shares of the business’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total value of $2,227,000.00. Following the transaction, the insider owned 23,657 shares of the company’s stock, valued at approximately $4,021,690. The trade was a 35.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares in the company, valued at $4,130,963.28. This represents a 49.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,775 shares of company stock valued at $29,596,059. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its holdings in shares of TE Connectivity by 3.6% in the 1st quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker’s stock valued at $255,000 after acquiring an additional 63 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of TE Connectivity by 1.4% in the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker’s stock valued at $703,000 after acquiring an additional 68 shares in the last quarter. Vista Investment Management raised its holdings in shares of TE Connectivity by 0.5% in the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock valued at $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock valued at $534,000 after acquiring an additional 75 shares in the last quarter. Finally, Hickory Point Bank & Trust raised its holdings in shares of TE Connectivity by 2.6% in the 2nd quarter. Hickory Point Bank & Trust now owns 2,938 shares of the electronics maker’s stock valued at $496,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.