TE Connectivity (NYSE:TEL) Price Target Cut to $142.00 by Analysts at Citigroup

TE Connectivity (NYSE:TEL) had its price objective reduced by equities researchers at Citigroup from $165.00 to $142.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Citigroup’s price objective would indicate a potential upside of 9.12% from the stock’s current price.

Other research analysts have also issued research reports about the company. UBS Group dropped their target price on TE Connectivity from $188.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report 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. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $161.30.

TE Connectivity Price Performance

TE Connectivity stock traded up $2.18 during mid-day trading on Monday, reaching $130.13. 2,226,375 shares of the company’s stock traded hands, compared to its average volume of 1,712,634. TE Connectivity has a 12-month low of $116.30 and a 12-month high of $159.98. The company has a market cap of $38.82 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.11 and a beta of 1.25. The stock has a 50 day moving average of $144.78 and a two-hundred day moving average of $147.04. 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 (NYSE:TEL) last issued its quarterly earnings data 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 company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. Equities analysts forecast that TE Connectivity will post 8.05 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vista Investment Management increased its holdings in shares of TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock valued at $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock valued at $534,000 after purchasing an additional 75 shares in the last quarter. Modera Wealth Management LLC raised its holdings in shares of TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after buying an additional 78 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of TE Connectivity by 4.3% during the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after buying an additional 80 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in shares of TE Connectivity by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after buying an additional 83 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

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.