TE Connectivity (NYSE:TEL) Price Target Raised to $170.00 at Wells Fargo & Company

TE Connectivity (NYSE:TEL) had its price objective boosted by Wells Fargo & Company from $156.00 to $170.00 in a research note released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the electronics maker’s stock.

TEL has been the topic of a number of other research reports. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Citigroup decreased their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wall Street Zen cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Robert W. Baird boosted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.90.

TE Connectivity Stock Performance

NYSE TEL opened at $170.30 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $50.50 billion, a price-to-earnings ratio of 37.43, a P/E/G ratio of 2.20 and a beta of 1.23. The firm’s 50 day simple moving average is $159.16 and its 200 day simple moving average is $149.31. TE Connectivity has a 1 year low of $116.30 and a 1 year high of $171.43.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business posted $1.86 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts expect that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s dividend payout ratio is presently 62.42%.

Insiders Place Their Bets

In related news, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the transaction, the chief financial officer owned 45,503 shares of the company’s stock, valued at approximately $7,244,532.63. This trade represents a 53.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 13,100 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the completion of the sale, the insider directly owned 23,657 shares in the company, valued at approximately $4,021,690. This trade represents a 35.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,775 shares of company stock worth $29,596,059. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in TEL. Kera Capital Partners Inc. bought a new stake in shares of TE Connectivity during the 2nd quarter valued at about $351,000. Swedbank AB lifted its position in TE Connectivity by 4.3% in the 1st quarter. Swedbank AB now owns 73,868 shares of the electronics maker’s stock valued at $10,439,000 after acquiring an additional 3,076 shares in the last quarter. eCIO Inc. bought a new position in TE Connectivity in the 1st quarter valued at approximately $104,000. Modern Wealth Management LLC bought a new position in shares of TE Connectivity during the 1st quarter valued at $310,000. Finally, Strs Ohio bought a new position in shares of TE Connectivity during the 1st quarter valued at $16,252,000. Institutional investors 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.