UBS Group Boosts TE Connectivity (NYSE:TEL) Price Target to $201.00

TE Connectivity (NYSE:TEL) had its price target lifted by UBS Group from $185.00 to $201.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. UBS Group’s price target points to a potential upside of 14.49% from the stock’s previous close.

Several other research firms have also recently weighed in on TEL. Robert W. Baird raised their price target on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Citigroup raised TE Connectivity from a “neutral” rating to a “buy” rating and raised their price target for the company from $150.00 to $200.00 in a report on Friday, July 11th. Truist Financial lowered their price target on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Bank of America raised their price target on TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Finally, Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.30.

TE Connectivity Stock Performance

Shares of TEL opened at $175.56 on Monday. The stock’s 50-day simple moving average is $164.90 and its 200 day simple moving average is $151.29. The stock has a market capitalization of $52.06 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. 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 52-week low of $116.30 and a 52-week high of $178.28.

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

Insider Activity

In related news, EVP John S. Jenkins sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president directly owned 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president owned 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 187,775 shares of company stock worth $29,596,059. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in TE Connectivity in the 4th quarter worth approximately $820,000. Proficio Capital Partners LLC purchased a new stake in TE Connectivity in the 4th quarter worth approximately $5,171,000. Moors & Cabot Inc. lifted its holdings in TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after buying an additional 95 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in TE Connectivity by 31.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 941 shares of the electronics maker’s stock worth $134,000 after buying an additional 226 shares during the period. Finally, Great Lakes Advisors LLC lifted its holdings in TE Connectivity by 19.1% in the 4th quarter. Great Lakes Advisors LLC now owns 2,486 shares of the electronics maker’s stock worth $355,000 after buying an additional 399 shares during the period. 91.43% of the stock is currently owned by institutional investors.

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.