TE Connectivity (NYSE:TEL) Stock Rating Upgraded by Citigroup

TE Connectivity (NYSE:TEL) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports. The firm presently has a $200.00 price target on the electronics maker’s stock, up from their previous price target of $150.00. Citigroup’s target price points to a potential upside of 12.91% from the stock’s current price.

TEL has been the subject of several other research reports. UBS Group upped their price target on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Robert W. Baird upped their target price on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Bank of America upped their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, 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 note on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.70.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $177.14 on Friday. The firm’s 50 day simple moving average is $163.83 and its 200-day simple moving average is $150.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity has a one year low of $116.30 and a one year high of $178.10. The firm has a market cap of $52.53 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.23.

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 return on equity of 19.40% and a net margin of 8.67%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the company posted $1.86 EPS. TE Connectivity’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that TE Connectivity will post 8.05 EPS for the current year.

Insider Transactions at TE Connectivity

In related news, 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 value of $2,227,000.00. Following the completion of the transaction, the insider owned 23,657 shares in the company, valued at $4,021,690. This trade represents a 35.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John S. Jenkins sold 30,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president owned 24,625 shares in the company, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock worth $29,596,059 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently bought and sold shares of the company. Costello Asset Management INC purchased a new stake in shares of TE Connectivity in the 1st quarter valued at $28,000. Millstone Evans Group LLC acquired a new stake in shares of TE Connectivity during the 1st quarter valued at about $32,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in TE Connectivity during the first quarter worth approximately $34,000. Ransom Advisory Ltd acquired a new stake in TE Connectivity in the first quarter valued at approximately $34,000. Finally, Dagco Inc. purchased a new stake in shares of TE Connectivity in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.