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

TE Connectivity (NYSE:TEL) had its price target cut by equities researchers at Citigroup from $165.00 to $142.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Citigroup’s price target points to a potential upside of 9.74% from the company’s previous close.

Several other research analysts also recently commented on TEL. UBS Group cut their target price on TE Connectivity from $188.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. 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. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $159.20.

TE Connectivity Trading Down 0.4 %

Shares of TEL opened at $129.40 on Monday. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The business has a 50-day moving average of $144.12 and a 200 day moving average of $146.77. The firm has a market cap of $38.61 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. As a group, research analysts forecast that TE Connectivity will post 8.05 EPS for the current year.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at about $43,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at about $44,000. Finally, Hilltop National Bank purchased a new stake in shares of TE Connectivity during the fourth quarter worth about $55,000. 91.43% of the stock is currently owned by institutional investors.

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.