Wells Fargo & Company Cuts TE Connectivity (NYSE:TEL) Price Target to $209.00

TE Connectivity (NYSE:TEL) had its price target cut by Wells Fargo & Company from $230.00 to $209.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.

TEL has been the topic of several other reports. Evercore restated an “in-line” rating and set a $230.00 target price on shares of TE Connectivity in a research report on Monday, June 22nd. Jefferies Financial Group upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price objective for the company. in a research note on Thursday, April 23rd. UBS Group lowered their target price on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Truist Financial dropped their target price on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.15.

TE Connectivity Stock Up 2.1%

TEL opened at $202.95 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.20. TE Connectivity has a 12 month low of $190.27 and a 12 month high of $252.56. The stock has a market capitalization of $59.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.41 and a beta of 1.17. The business has a 50 day simple moving average of $205.36 and a 200-day simple moving average of $215.01.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.09. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.TE Connectivity’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. On average, equities analysts anticipate that TE Connectivity will post 11.45 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s dividend payout ratio is 30.59%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the transaction, the insider owned 25,976 shares of the company’s stock, valued at $5,584,840. The trade was a 26.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in shares of TE Connectivity by 11.1% during the fourth quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker’s stock valued at $52,506,000 after acquiring an additional 23,074 shares during the last quarter. Man Group plc raised its stake in TE Connectivity by 259.9% in the 4th quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock valued at $284,941,000 after purchasing an additional 904,468 shares during the last quarter. Jefferies Financial Group Inc. raised its stake in TE Connectivity by 575.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 36,496 shares of the electronics maker’s stock valued at $8,303,000 after purchasing an additional 31,096 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $1,983,000. Finally, Swedbank AB boosted its stake in shares of TE Connectivity by 8.1% during the 4th quarter. Swedbank AB now owns 84,831 shares of the electronics maker’s stock worth $19,300,000 after purchasing an additional 6,385 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

About TE Connectivity

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.