TE Connectivity (NYSE:TEL) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TE Connectivity (NYSE:TEL) from a neutral rating to an overweight rating in a report issued on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $117.00 target price on the electronics maker’s stock, up from their prior target price of $98.00.

Several other equities analysts have also recently issued reports on TEL. Royal Bank of Canada started coverage on shares of TE Connectivity in a research report on Tuesday, December 17th. They issued an outperform rating and a $105.00 price target for the company. Wells Fargo & Co upgraded shares of TE Connectivity from an equal weight rating to an overweight rating and upped their price target for the company from $100.00 to $112.00 in a research report on Tuesday, January 14th. Zacks Investment Research cut shares of TE Connectivity from a hold rating to a sell rating and set a $97.00 price target for the company. in a research report on Monday, October 21st. Citigroup cut shares of TE Connectivity from a buy rating to a neutral rating and decreased their price target for the company from $105.00 to $95.00 in a research report on Wednesday, October 9th. Finally, Morgan Stanley cut shares of TE Connectivity from an overweight rating to an equal weight rating and decreased their price target for the company from $98.00 to $95.00 in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $100.85.

Shares of NYSE TEL opened at $98.40 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.57. TE Connectivity has a 52-week low of $78.53 and a 52-week high of $101.00. The firm has a 50 day moving average price of $96.21 and a two-hundred day moving average price of $92.99. The stock has a market cap of $33.56 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the company posted $1.35 EPS. The company’s revenue was down 6.0% on a year-over-year basis. Analysts predict that TE Connectivity will post 5.12 earnings per share for the current fiscal year.

In other news, EVP John S. Jenkins sold 9,835 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $94.11, for a total transaction of $925,571.85. Following the completion of the sale, the executive vice president now directly owns 45,430 shares in the company, valued at $4,275,417.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Terrence R. Curtin sold 34,853 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $94.11, for a total transaction of $3,280,015.83. Following the sale, the director now owns 164,332 shares of the company’s stock, valued at $15,465,284.52. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM Advisors LLC increased its position in shares of TE Connectivity by 3.3% during the fourth quarter. CWM Advisors LLC now owns 8,263 shares of the electronics maker’s stock worth $792,000 after buying an additional 263 shares during the period. Intellectus Partners LLC increased its position in shares of TE Connectivity by 4.0% during the fourth quarter. Intellectus Partners LLC now owns 7,548 shares of the electronics maker’s stock worth $723,000 after buying an additional 288 shares during the period. Hardy Reed LLC increased its position in shares of TE Connectivity by 4.1% during the fourth quarter. Hardy Reed LLC now owns 5,089 shares of the electronics maker’s stock worth $488,000 after buying an additional 200 shares during the period. Advisor Partners LLC increased its position in shares of TE Connectivity by 13.5% during the fourth quarter. Advisor Partners LLC now owns 13,667 shares of the electronics maker’s stock worth $1,351,000 after buying an additional 1,629 shares during the period. Finally, Telos Capital Management Inc. acquired a new stake in shares of TE Connectivity during the fourth quarter worth $220,000. Institutional investors own 90.69% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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