Wells Fargo & Co cut shares of TE Connectivity (NYSE:TEL) from an outperform rating to a market perform rating in a report published on Thursday, BenzingaRatingsTable reports.

Several other brokerages have also issued reports on TEL. Longbow Research lowered shares of TE Connectivity from a buy rating to a neutral rating and set a $90.66 price target for the company. in a research note on Monday, June 17th. HC Wainwright restated a buy rating on shares of Ballard Power Systems in a research note on Friday, May 3rd. Goldman Sachs Group set a €6.20 ($7.21) price objective on shares of Kloeckner & Co SE and gave the stock a buy rating in a report on Thursday, June 20th. Zacks Investment Research raised shares of Triple-S Management from a hold rating to a buy rating and set a $26.00 price objective for the company in a report on Monday, April 29th. Finally, Cross Research downgraded shares of TE Connectivity from a buy rating to a hold rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $92.21.

Shares of TEL stock opened at $93.65 on Thursday. The business’s 50 day moving average is $92.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 1.47. TE Connectivity has a 12-month low of $69.84 and a 12-month high of $97.99. The stock has a market cap of $30.97 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.62 and a beta of 1.20.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.08. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the business posted $1.43 EPS. TE Connectivity’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that TE Connectivity will post 5.53 earnings per share for the current fiscal year.

In related news, insider Terrence R. Curtin sold 128,750 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $94.20, for a total value of $12,128,250.00. Following the completion of the transaction, the insider now directly owns 213,719 shares of the company’s stock, valued at approximately $20,132,329.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mario Calastri sold 33,075 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $95.00, for a total transaction of $3,142,125.00. Following the completion of the transaction, the senior vice president now directly owns 25,679 shares of the company’s stock, valued at $2,439,505. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 299,383 shares of company stock valued at $28,368,769. 0.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in TEL. Norges Bank bought a new position in TE Connectivity in the 4th quarter valued at $280,716,000. FMR LLC boosted its holdings in TE Connectivity by 23.5% in the 4th quarter. FMR LLC now owns 6,558,221 shares of the electronics maker’s stock valued at $495,997,000 after purchasing an additional 1,248,798 shares during the period. Deutsche Bank AG boosted its holdings in TE Connectivity by 72.4% in the 4th quarter. Deutsche Bank AG now owns 2,474,404 shares of the electronics maker’s stock valued at $187,134,000 after purchasing an additional 1,039,280 shares during the period. Rivulet Capital LLC bought a new position in TE Connectivity in the 1st quarter valued at $69,308,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in TE Connectivity by 854,554.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock valued at $68,324,000 after purchasing an additional 846,009 shares during the period. 91.24% of the stock is owned by hedge funds and other institutional investors.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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