Evercore ISI Boosts TE Connectivity (NYSE:TEL) Price Target to $250.00

TE Connectivity (NYSE:TEL) had its price objective boosted by analysts at Evercore ISI from $225.00 to $250.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the electronics maker’s stock. Evercore ISI’s price objective would indicate a potential upside of 9.46% from the stock’s current price.

Several other research firms also recently issued reports on TEL. Zacks Research downgraded shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. UBS Group upped their price objective on shares of TE Connectivity from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, October 6th. Wall Street Zen downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 31st. Robert W. Baird upped their price objective on shares of TE Connectivity from $222.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, KGI Securities upgraded shares of TE Connectivity to a “hold” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $222.00.

TE Connectivity Stock Performance

TEL stock opened at $228.39 on Monday. The firm has a market cap of $67.48 billion, a price-to-earnings ratio of 47.29, a PEG ratio of 2.44 and a beta of 1.26. The firm has a 50-day simple moving average of $213.47 and a two-hundred day simple moving average of $181.42. TE Connectivity has a one year low of $116.30 and a one year high of $234.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 earnings per share. On average, equities analysts forecast that TE Connectivity will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the transaction, the senior vice president owned 4,716 shares in the company, valued at approximately $977,155.20. This represents a 29.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John S. Jenkins sold 45,850 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the transaction, the executive vice president owned 24,625 shares in the company, valued at approximately $5,154,751.25. This trade represents a 65.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,645 shares of company stock worth $14,842,096. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dakota Community Bank & Trust NA grew its stake in shares of TE Connectivity by 5.4% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 951 shares of the electronics maker’s stock worth $209,000 after purchasing an additional 49 shares during the period. Security National Bank of SO Dak grew its stake in shares of TE Connectivity by 0.5% during the 2nd quarter. Security National Bank of SO Dak now owns 10,865 shares of the electronics maker’s stock worth $1,833,000 after purchasing an additional 50 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of TE Connectivity by 1.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,349 shares of the electronics maker’s stock worth $565,000 after purchasing an additional 52 shares during the period. HM Payson & Co. grew its stake in shares of TE Connectivity by 1.5% during the 3rd quarter. HM Payson & Co. now owns 3,511 shares of the electronics maker’s stock worth $771,000 after purchasing an additional 52 shares during the period. Finally, SOA Wealth Advisors LLC. grew its stake in shares of TE Connectivity by 47.4% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 168 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds 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.