JPMorgan Chase & Co. Lowers TE Connectivity (NYSE:TEL) Price Target to $169.00

TE Connectivity (NYSE:TEL) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $170.00 to $169.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 20.53% from the company’s previous close.

Several other research firms also recently issued reports on TEL. StockNews.com assumed coverage on shares of TE Connectivity in a report on Monday, April 22nd. They set a “buy” rating for the company. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Stifel Nicolaus upped their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Robert W. Baird reduced their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.50.

TE Connectivity Stock Performance

TEL stock opened at $140.21 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $43.58 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.99 and a beta of 1.39. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $147.98. The firm has a 50 day moving average of $142.55 and a two-hundred day moving average of $136.17.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. As a group, equities analysts anticipate that TE Connectivity will post 7.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. IFP Advisors Inc increased its position in TE Connectivity by 35.9% in the 3rd quarter. IFP Advisors Inc now owns 2,036 shares of the electronics maker’s stock valued at $251,000 after acquiring an additional 538 shares in the last quarter. Founders Financial Securities LLC increased its position in TE Connectivity by 8.9% in the 3rd quarter. Founders Financial Securities LLC now owns 1,650 shares of the electronics maker’s stock valued at $204,000 after acquiring an additional 135 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of TE Connectivity by 14.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock valued at $92,000 after purchasing an additional 94 shares during the last quarter. Caprock Group LLC boosted its stake in shares of TE Connectivity by 2.9% in the 3rd quarter. Caprock Group LLC now owns 5,493 shares of the electronics maker’s stock valued at $679,000 after purchasing an additional 156 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of TE Connectivity by 47.2% in the 3rd quarter. Czech National Bank now owns 54,900 shares of the electronics maker’s stock valued at $6,782,000 after purchasing an additional 17,596 shares during the last quarter. Institutional investors and hedge funds 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.