The Goldman Sachs Group Lowers TE Connectivity (NYSE:TEL) Price Target to $170.00

TE Connectivity (NYSE:TEL) had its price target lowered by The Goldman Sachs Group from $190.00 to $170.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 32.97% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Truist Financial reduced their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $163.60.

TE Connectivity Stock Performance

Shares of TEL stock opened at $127.85 on Thursday. The firm’s 50 day moving average is $144.78 and its 200 day moving average is $147.05. The stock has a market capitalization of $38.14 billion, a P/E ratio of 20.42, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity has a 12 month low of $116.30 and a 12 month high of $159.98. 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 earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its position in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC bought a new stake in TE Connectivity in the 4th quarter worth $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 bought a new position in shares of TE Connectivity during the fourth quarter valued at about $55,000. 91.43% of the stock is currently owned by hedge funds and other 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.