Robert W. Baird Lowers TE Connectivity (NYSE:TEL) Price Target to $158.00

TE Connectivity (NYSE:TEL) had its price target cut by equities research analysts at Robert W. Baird from $159.00 to $158.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the electronics maker’s stock. Robert W. Baird’s target price suggests a potential upside of 12.69% from the stock’s previous close.

A number of other analysts have also recently weighed in on TEL. JPMorgan Chase & Co. boosted their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Monday, April 22nd. They issued a “buy” rating on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, Truist Financial boosted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.50.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $140.21 on Thursday. The company’s 50 day simple moving average is $142.55 and its 200 day simple moving average is $136.17. The stock has a market capitalization of $43.58 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. As a group, research analysts predict that TE Connectivity will post 7.59 EPS for the current fiscal year.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TEL. Lee Danner & Bass Inc. lifted its stake in TE Connectivity by 2.5% in the 4th quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock worth $433,000 after purchasing an additional 74 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in TE Connectivity by 0.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 75 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in TE Connectivity by 3.2% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock worth $348,000 after purchasing an additional 78 shares in the last quarter. Perpetual Ltd lifted its stake in TE Connectivity by 4.1% in the 1st quarter. Perpetual Ltd now owns 1,990 shares of the electronics maker’s stock worth $289,000 after purchasing an additional 78 shares in the last quarter. Finally, Vista Investment Management lifted its stake in TE Connectivity by 0.7% in the 3rd quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock worth $1,479,000 after purchasing an additional 84 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

About TE Connectivity

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.