TE Connectivity (NYSE:TEL) Price Target Raised to $154.00

TE Connectivity (NYSE:TELGet Rating) had its target price boosted by Jefferies Financial Group from $140.00 to $154.00 in a research note published on Tuesday morning, The Fly reports. Jefferies Financial Group also issued estimates for TE Connectivity’s Q1 2023 earnings at $1.38 EPS, Q2 2023 earnings at $1.52 EPS, Q3 2023 earnings at $1.76 EPS, Q4 2023 earnings at $1.82 EPS, FY2023 earnings at $6.48 EPS and FY2024 earnings at $7.65 EPS.

Several other research firms have also recently commented on TEL. Bank of America lowered their price target on shares of TE Connectivity from $146.00 to $140.00 in a report on Wednesday, November 2nd. Royal Bank of Canada lowered their price target on shares of TE Connectivity from $147.00 to $138.00 and set an outperform rating on the stock in a report on Thursday, November 3rd. StockNews.com cut shares of TE Connectivity from a buy rating to a hold rating in a report on Thursday, November 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of TE Connectivity from $145.00 to $135.00 and set a neutral rating on the stock in a report on Thursday, November 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $138.56.

TE Connectivity Trading Up 0.5 %

NYSE TEL opened at $127.26 on Tuesday. TE Connectivity has a twelve month low of $104.76 and a twelve month high of $165.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 1.57. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.58 and a beta of 1.31. The firm’s 50 day moving average price is $117.72 and its two-hundred day moving average price is $122.11.

TE Connectivity (NYSE:TELGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The electronics maker reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.01. TE Connectivity had a net margin of 14.91% and a return on equity of 22.31%. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Equities analysts anticipate that TE Connectivity will post 6.87 EPS for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 42,150 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $126.25, for a total transaction of $5,321,437.50. Following the completion of the transaction, the insider now owns 15,595 shares of the company’s stock, valued at approximately $1,968,868.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, insider Shadrak W. Kroeger sold 42,150 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $126.25, for a total transaction of $5,321,437.50. Following the completion of the transaction, the insider now owns 15,595 shares of the company’s stock, valued at approximately $1,968,868.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 2,674 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $125.85, for a total transaction of $336,522.90. Following the transaction, the executive vice president now directly owns 16,782 shares of the company’s stock, valued at approximately $2,112,014.70. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Xponance Inc. raised its position in shares of TE Connectivity by 11.8% during the second quarter. Xponance Inc. now owns 20,485 shares of the electronics maker’s stock valued at $2,318,000 after buying an additional 2,169 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of TE Connectivity by 59.6% during the second quarter. Wealthfront Advisers LLC now owns 7,870 shares of the electronics maker’s stock valued at $890,000 after buying an additional 2,938 shares during the last quarter. Cerity Partners LLC raised its position in shares of TE Connectivity by 93.0% during the second quarter. Cerity Partners LLC now owns 8,274 shares of the electronics maker’s stock valued at $935,000 after buying an additional 3,988 shares during the last quarter. Zions Bancorporation N.A. raised its position in shares of TE Connectivity by 49.4% during the second quarter. Zions Bancorporation N.A. now owns 493 shares of the electronics maker’s stock valued at $56,000 after buying an additional 163 shares during the last quarter. Finally, Parametrica Management Ltd increased its stake in TE Connectivity by 6.3% in the second quarter. Parametrica Management Ltd now owns 1,910 shares of the electronics maker’s stock valued at $216,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 90.61% of the company’s stock.

About TE Connectivity

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TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor 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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