TE Connectivity (TEL) Receives Hold Rating from SunTrust Banks

SunTrust Banks reissued their hold rating on shares of TE Connectivity (NYSE:TEL) in a report issued on Wednesday morning, Marketbeat.com reports. SunTrust Banks currently has a $82.00 price objective on the electronics maker’s stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered TE Connectivity from a hold rating to a sell rating in a research report on Wednesday, July 18th. Royal Bank of Canada set a $114.00 price objective on TE Connectivity and gave the company a buy rating in a research report on Tuesday, September 25th. Macquarie assumed coverage on TE Connectivity in a research report on Monday, October 8th. They set an outperform rating for the company. Wells Fargo & Co cut their price objective on TE Connectivity from $120.00 to $115.00 and set an outperform rating for the company in a research report on Tuesday, July 17th. Finally, Morgan Stanley cut their price objective on TE Connectivity from $107.00 to $102.00 and set an overweight rating for the company in a research report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $108.00.

NYSE:TEL traded up $1.73 on Wednesday, reaching $77.15. 2,992,426 shares of the company’s stock traded hands, compared to its average volume of 2,369,994. The company has a quick ratio of 0.98, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. The stock has a market cap of $27.24 billion, a PE ratio of 15.97, a P/E/G ratio of 1.20 and a beta of 1.01. TE Connectivity has a 12 month low of $73.70 and a 12 month high of $108.23.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.65 billion. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Sell-side analysts anticipate that TE Connectivity will post 5.59 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in TE Connectivity by 0.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 215,647 shares of the electronics maker’s stock worth $18,962,000 after acquiring an additional 1,525 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in TE Connectivity by 8.1% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 73,138 shares of the electronics maker’s stock worth $6,431,000 after acquiring an additional 5,510 shares in the last quarter. Financial Counselors Inc. grew its position in TE Connectivity by 2.5% in the third quarter. Financial Counselors Inc. now owns 96,228 shares of the electronics maker’s stock worth $8,461,000 after acquiring an additional 2,315 shares in the last quarter. Robecosam AG grew its position in TE Connectivity by 80.8% in the third quarter. Robecosam AG now owns 421,097 shares of the electronics maker’s stock worth $37,094,000 after acquiring an additional 188,220 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in TE Connectivity by 1.9% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 48,533 shares of the electronics maker’s stock worth $4,268,000 after acquiring an additional 903 shares in the last quarter. Institutional investors own 88.01% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

See Also: Google Finance Portfolio Tips and Tricks

Analyst Recommendations for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply