According to Zacks, “TE Connectivity has a decent earnings surprise history, beating estimates thrice in the trailing four quarters. Robust growth in harsh environment and SubCom businesses, along with productivity improvements, boosted growth in the last reported quarter. Strong traction in the connectivity and sensor business, sales growth and design-wins in automotive & integrated multiple components, and rebound in transportation business were key growth drivers. However, sluggish industrial markets, weakness in oil & gas markets and derivative impact of lower oil prices are posing as major headwinds, thwarting growth. Also, adverse currency fluctuations and high restructuring expenses might hurt the company’s performance. Going forward, industrial, data & devices, and communications businesses are expected to be impacted by the weakness in Chinese economy. “
Other research analysts have also issued research reports about the company. Morgan Stanley reiterated a buy rating on shares of TE Connectivity in a research report on Tuesday, September 20th. Royal Bank Of Canada restated a buy rating and issued a $66.00 price objective on shares of TE Connectivity in a report on Friday, June 17th. Deutsche Bank AG restated a hold rating and issued a $65.00 price objective on shares of TE Connectivity in a report on Wednesday, June 15th. Finally, RBC Capital Markets restated an outperform rating and issued a $65.00 price objective (up previously from $63.00) on shares of TE Connectivity in a report on Thursday, July 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. TE Connectivity presently has a consensus rating of Buy and an average price target of $64.33.
Shares of TE Connectivity (NYSE:TEL) opened at 61.03 on Wednesday. TE Connectivity has a 52 week low of $51.70 and a 52 week high of $67.99. The firm has a 50-day moving average price of $62.97 and a 200-day moving average price of $60.86. The firm has a market capitalization of $21.70 billion, a price-to-earnings ratio of 8.91 and a beta of 1.40.
In other news, SVP Robert J. Ott sold 11,156 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $63.32, for a total transaction of $706,397.92. Following the sale, the senior vice president now directly owns 8,185 shares of the company’s stock, valued at $518,274.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph B. Donahue sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $63.78, for a total value of $637,800.00. Following the sale, the chief operating officer now directly owns 38,825 shares in the company, valued at $2,476,258.50. The disclosure for this sale can be found here. 1.49% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. BTIM Corp. raised its stake in shares of TE Connectivity by 4.9% in the third quarter. BTIM Corp. now owns 36,620 shares of the company’s stock worth $2,357,000 after buying an additional 1,725 shares during the period. Farmers Trust Co. raised its stake in shares of TE Connectivity by 3.1% in the third quarter. Farmers Trust Co. now owns 47,206 shares of the company’s stock worth $3,039,000 after buying an additional 1,432 shares during the period. Vigilant Capital Management LLC raised its stake in shares of TE Connectivity by 4.8% in the third quarter. Vigilant Capital Management LLC now owns 140,883 shares of the company’s stock worth $9,070,000 after buying an additional 6,440 shares during the period. Private Bank & Trust Co. raised its stake in shares of TE Connectivity by 0.4% in the third quarter. Private Bank & Trust Co. now owns 39,372 shares of the company’s stock worth $2,534,000 after buying an additional 175 shares during the period. Finally, Howland Capital Management LLC raised its stake in shares of TE Connectivity by 52.9% in the third quarter. Howland Capital Management LLC now owns 232,870 shares of the company’s stock worth $14,992,000 after buying an additional 80,572 shares during the period. 91.52% of the stock is currently owned by institutional investors.
TE Connectivity Company Profile
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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