TE Connectivity (NYSE:TEL) Price Target Cut to $151.00

TE Connectivity (NYSE:TELGet Rating) had its target price cut by equities research analysts at Morgan Stanley from $167.00 to $151.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the electronics maker’s stock. Morgan Stanley’s price objective indicates a potential upside of 23.66% from the company’s current price.

TEL has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on TE Connectivity from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 10th. JPMorgan Chase & Co. lifted their price target on TE Connectivity from $170.00 to $176.00 in a research note on Thursday, January 20th. Truist Financial cut their price target on TE Connectivity from $144.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, April 8th. Finally, StockNews.com assumed coverage on TE Connectivity in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $164.27.

Shares of NYSE TEL traded down $0.77 during mid-day trading on Monday, reaching $122.11. The company had a trading volume of 10,779 shares, compared to its average volume of 1,849,727. TE Connectivity has a one year low of $120.73 and a one year high of $166.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.69. The business’s 50-day simple moving average is $132.04 and its 200 day simple moving average is $146.49. The firm has a market cap of $39.85 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.69 and a beta of 1.32.

TE Connectivity (NYSE:TELGet Rating) last released its earnings results on Wednesday, January 26th. The electronics maker reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.14. TE Connectivity had a return on equity of 21.87% and a net margin of 16.07%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the business posted $1.47 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity will post 7.18 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Capital World Investors lifted its stake in shares of TE Connectivity by 17.0% in the fourth quarter. Capital World Investors now owns 20,649,105 shares of the electronics maker’s stock worth $3,331,527,000 after acquiring an additional 2,994,368 shares during the period. State Street Corp increased its holdings in TE Connectivity by 2.6% in the fourth quarter. State Street Corp now owns 12,505,310 shares of the electronics maker’s stock worth $2,017,607,000 after purchasing an additional 321,169 shares in the last quarter. Norges Bank bought a new stake in TE Connectivity in the fourth quarter worth approximately $972,351,000. Geode Capital Management LLC increased its holdings in TE Connectivity by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,847,829 shares of the electronics maker’s stock worth $779,663,000 after purchasing an additional 114,608 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in TE Connectivity by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,596,911 shares of the electronics maker’s stock worth $741,665,000 after purchasing an additional 442,857 shares in the last quarter. 89.44% of the stock is currently owned by institutional investors.

About TE Connectivity (Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaÂ-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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