TE Connectivity (NYSE:TEL) Price Target Cut to $147.00 by Analysts at Robert W. Baird

TE Connectivity (NYSE:TEL) had its target price cut by stock analysts at Robert W. Baird from $150.00 to $147.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the electronics maker’s stock. Robert W. Baird’s price target would indicate a potential upside of 12.96% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company increased their price target on 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 lifted their price target 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. Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group cut their target price on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.20.

TE Connectivity Trading Up 1.7 %

Shares of TEL stock opened at $130.13 on Tuesday. TE Connectivity has a twelve month low of $116.30 and a twelve month high of $159.98. The stock 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 company’s 50-day moving average price is $144.46 and its 200-day moving average price is $146.89. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were 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 in the company, valued at approximately $3,812,497.52. The trade was 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 the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of TE Connectivity

A number of hedge funds and other institutional investors have recently bought and sold shares of TEL. Vista Investment Management increased its position in TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock worth $1,891,000 after buying an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in TE Connectivity by 2.1% in 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 during the last quarter. Modera Wealth Management LLC lifted its holdings in TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after purchasing an additional 78 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of TE Connectivity by 4.3% during the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 80 shares during the last quarter. 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 worth $2,002,000 after buying an additional 83 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.