TE Connectivity (NYSE:TEL) Stock Rating Lowered by Wall Street Zen

TE Connectivity (NYSE:TEL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also weighed in on TEL. HSBC reduced their price target on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. The Goldman Sachs Group lifted their price objective on shares of TE Connectivity from $284.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a research note on Friday, September 11th. UBS Group increased their target price on shares of TE Connectivity from $253.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, Fox Advisors downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a research report on Monday, November 2nd. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.50.

TE Connectivity Stock Up 0.3%

TEL stock opened at $207.59 on Friday. The stock’s fifty day simple moving average is $212.17 and its two-hundred day simple moving average is $212.54. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. TE Connectivity has a 1-year low of $190.27 and a 1-year high of $252.56. The stock has a market cap of $60.10 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.30 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.07. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. Analysts expect that TE Connectivity will post 13.43 EPS for the current year.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently added to or reduced their stakes in TEL. State Street Corp raised its stake in shares of TE Connectivity by 5.7% during the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after acquiring an additional 730,084 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of TE Connectivity by 48.2% in the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after purchasing an additional 2,507,569 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of TE Connectivity by 3.5% during the 2nd quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock valued at $652,796,000 after purchasing an additional 109,020 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TE Connectivity by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock valued at $618,121,000 after purchasing an additional 118,284 shares during the last quarter. Finally, Amundi raised its position in TE Connectivity by 37.2% in the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock worth $471,733,000 after purchasing an additional 612,180 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems.

The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.