TE Connectivity (TEL) Upgraded by Goldman Sachs to Neutral

Goldman Sachs upgraded shares of TE Connectivity (NYSE:TEL) from a sell rating to a neutral rating in a research report report published on Wednesday, Marketbeat reports. Goldman Sachs currently has $101.00 price target on the electronics maker’s stock.

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird reiterated a buy rating and set a $123.00 price objective on shares of TE Connectivity in a research report on Tuesday. Oppenheimer assumed coverage on shares of TE Connectivity in a research report on Monday, March 26th. They set an outperform rating and a $120.00 price objective on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a hold rating to a buy rating and set a $113.00 price objective on the stock in a research report on Friday, March 23rd. ValuEngine upgraded shares of TE Connectivity from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, SunTrust Banks reiterated a hold rating and set a $102.00 price objective on shares of TE Connectivity in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. TE Connectivity has a consensus rating of Buy and a consensus price target of $134.38.

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NYSE TEL opened at $102.18 on Wednesday. TE Connectivity has a 12 month low of $72.95 and a 12 month high of $108.23. The company has a market cap of $35,419.16, a price-to-earnings ratio of 19.85, a PEG ratio of 1.68 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34.



TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the business earned $1.15 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. analysts expect that TE Connectivity will post 5.5 earnings per share for the current year.

In other TE Connectivity news, SVP Robert J. Ott sold 10,700 shares of TE Connectivity stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $105.14, for a total transaction of $1,124,998.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrence R. Curtin sold 142,450 shares of TE Connectivity stock in a transaction on Monday, January 29th. The stock was sold at an average price of $104.24, for a total transaction of $14,848,988.00. Following the transaction, the insider now directly owns 200,258 shares of the company’s stock, valued at $20,874,893.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 352,750 shares of company stock valued at $36,475,611. 0.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. BP PLC boosted its stake in shares of TE Connectivity by 88.9% during the fourth quarter. BP PLC now owns 85,000 shares of the electronics maker’s stock valued at $8,079,000 after purchasing an additional 40,000 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of TE Connectivity by 3.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,077,914 shares of the electronics maker’s stock valued at $197,484,000 after purchasing an additional 69,706 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $2,645,000. Deutsche Bank AG boosted its stake in shares of TE Connectivity by 6.4% during the fourth quarter. Deutsche Bank AG now owns 1,170,806 shares of the electronics maker’s stock valued at $111,269,000 after purchasing an additional 70,324 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of TE Connectivity by 8.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after purchasing an additional 313,244 shares during the period. 91.70% of the stock is owned by hedge funds and other institutional investors.

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About TE Connectivity

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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