Morgan Stanley Trims TE Connectivity (NYSE:TEL) Target Price to $140.00

TE Connectivity (NYSE:TELGet Rating) had its target price lowered by investment analysts at Morgan Stanley from $147.00 to $140.00 in a report issued on Friday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the electronics maker’s stock. Morgan Stanley’s price target points to a potential upside of 12.86% from the stock’s previous close.

A number of other equities analysts have also commented on TEL. StockNews.com raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. Truist Financial lowered their target price on shares of TE Connectivity from $144.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, April 8th. Finally, The Goldman Sachs Group reduced their price target on TE Connectivity from $169.00 to $160.00 in a research report on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $163.10.

TE Connectivity stock traded down $3.74 during mid-day trading on Friday, hitting $124.05. 15,550 shares of the company’s stock traded hands, compared to its average volume of 1,391,174. TE Connectivity has a fifty-two week low of $119.58 and a fifty-two week high of $166.44. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.76 and a beta of 1.27. The firm has a 50 day simple moving average of $125.92 and a two-hundred day simple moving average of $140.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.47 and a quick ratio of 0.88.

TE Connectivity (NYSE:TELGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The electronics maker reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.81 billion. TE Connectivity had a net margin of 16.14% and a return on equity of 22.10%. TE Connectivity’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. On average, research analysts anticipate that TE Connectivity will post 7.16 earnings per share for the current fiscal year.

In other TE Connectivity news, Director Thomas J. Lynch sold 12,600 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $126.86, for a total value of $1,598,436.00. Following the completion of the transaction, the director now owns 11,750 shares in the company, valued at approximately $1,490,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC purchased a new position in shares of TE Connectivity during the 4th quarter valued at $25,000. AHL Investment Management Inc. purchased a new stake in TE Connectivity during the fourth quarter valued at about $26,000. Arlington Partners LLC bought a new position in TE Connectivity during the fourth quarter worth about $27,000. Econ Financial Services Corp purchased a new position in shares of TE Connectivity in the fourth quarter worth about $28,000. Finally, Shore Point Advisors LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $30,000. 91.16% of the stock is owned by institutional investors and hedge funds.

About TE Connectivity (Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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