Citigroup Cuts TE Connectivity (NYSE:TEL) Price Target to $142.00

TE Connectivity (NYSE:TEL) had its price objective dropped by research analysts at Citigroup from $165.00 to $142.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Citigroup’s target price would indicate a potential upside of 9.12% from the company’s current price.

TEL has been the topic of a number of other reports. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group cut their target price on shares of TE Connectivity from $188.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $161.30.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded up $2.18 during midday trading on Monday, reaching $130.13. 2,226,375 shares of the company traded hands, compared to its average volume of 1,712,634. The firm’s fifty day moving average price is $144.78 and its two-hundred day moving average price is $147.04. The firm has a market capitalization of $38.82 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity has a 12 month low of $116.30 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $1.84 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. On average, equities analysts expect that TE Connectivity will post 8.05 earnings per share for the current year.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of TE Connectivity by 27.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,042 shares of the electronics maker’s stock worth $287,000 after purchasing an additional 434 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in TE Connectivity by 13.8% in the first quarter. Park Avenue Securities LLC now owns 8,142 shares of the electronics maker’s stock worth $1,151,000 after acquiring an additional 985 shares in the last quarter. Kennebec Savings Bank raised its position in shares of TE Connectivity by 3.8% in the 1st quarter. Kennebec Savings Bank now owns 3,924 shares of the electronics maker’s stock worth $555,000 after purchasing an additional 143 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in TE Connectivity in the 1st quarter worth about $1,069,000. Finally, Wedmont Private Capital grew its position in TE Connectivity by 4.3% during the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock valued at $275,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors 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.