Truist Financial Lowers TE Connectivity (NYSE:TEL) Price Target to $240.00

TE Connectivity (NYSE:TEL) had its price target cut by stock analysts at Truist Financial from $244.00 to $240.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the electronics maker’s stock. Truist Financial’s price target indicates a potential upside of 11.96% from the stock’s current price.

TEL has been the subject of several other research reports. Wells Fargo & Company upped their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group lowered their price target on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research report on Thursday. Oppenheimer upped their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Barclays lowered their price target on shares of TE Connectivity from $302.00 to $297.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $256.57.

TE Connectivity Stock Down 1.5%

Shares of NYSE:TEL opened at $214.36 on Thursday. The stock has a market capitalization of $62.90 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.26. TE Connectivity has a 1-year low of $142.45 and a 1-year high of $252.56. The company’s fifty day moving average is $218.03 and its two-hundred day moving average is $226.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.07 and a current ratio of 1.89.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.03. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities analysts anticipate that TE Connectivity will post 11.27 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 6,155 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $222.81, for a total value of $1,371,395.55. Following the completion of the transaction, the executive vice president owned 21,810 shares in the company, valued at $4,859,486.10. This represents a 22.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Reuben M. Shaffer sold 1,425 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $234.23, for a total transaction of $333,777.75. The disclosure for this sale is available in the SEC filing. Insiders sold 42,345 shares of company stock worth $9,627,260 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Several large investors have recently made changes to their positions in TEL. Brighton Jones LLC bought a new position in shares of TE Connectivity during the 4th quarter valued at about $820,000. Sivia Capital Partners LLC boosted its position in shares of TE Connectivity by 66.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker’s stock valued at $425,000 after purchasing an additional 1,007 shares in the last quarter. Walleye Capital LLC boosted its position in shares of TE Connectivity by 14.6% during the 2nd quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker’s stock valued at $453,000 after purchasing an additional 343 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of TE Connectivity by 1,214.0% during the 2nd quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker’s stock valued at $17,755,000 after purchasing an additional 97,256 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in shares of TE Connectivity by 75.0% during the 2nd quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker’s stock valued at $3,927,000 after purchasing an additional 9,980 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

About TE Connectivity

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.