TE Connectivity (NYSE:TEL) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of TE Connectivity (NYSE:TEL) from a hold rating to a sell rating in a research note published on Tuesday morning, ValuEngine reports.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of TE Connectivity in a research note on Tuesday, October 22nd. They set a neutral rating and a $102.00 price objective for the company. Wolfe Research assumed coverage on TE Connectivity in a research report on Tuesday, October 8th. They issued a market perform rating and a $91.00 target price on the stock. Zacks Investment Research cut TE Connectivity from a hold rating to a sell rating and set a $97.00 target price on the stock. in a report on Monday, October 21st. Citigroup cut TE Connectivity from a buy rating to a neutral rating and reduced their target price for the company from $105.00 to $95.00 in a report on Wednesday, October 9th. Finally, Morgan Stanley downgraded TE Connectivity from an overweight rating to an equal weight rating and lowered their price target for the company from $98.00 to $95.00 in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. TE Connectivity has an average rating of Hold and an average price target of $93.07.

TEL opened at $89.59 on Tuesday. The company’s 50 day simple moving average is $92.72 and its 200 day simple moving average is $91.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.57. TE Connectivity has a 1 year low of $69.84 and a 1 year high of $97.99. The stock has a market capitalization of $31.14 billion, a PE ratio of 16.14, a P/E/G ratio of 1.70 and a beta of 1.14.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.27 billion. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. TE Connectivity’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.35 earnings per share. As a group, sell-side analysts expect that TE Connectivity will post 5.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, November 21st. TE Connectivity’s payout ratio is currently 33.15%.

Several hedge funds have recently modified their holdings of TEL. Massachusetts Financial Services Co. MA lifted its holdings in shares of TE Connectivity by 75.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,783,817 shares of the electronics maker’s stock valued at $352,576,000 after acquiring an additional 1,622,398 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of TE Connectivity by 19,806.7% in the second quarter. Nuveen Asset Management LLC now owns 1,570,836 shares of the electronics maker’s stock worth $150,455,000 after buying an additional 1,562,945 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of TE Connectivity by 7.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,659,858 shares of the electronics maker’s stock valued at $1,404,121,000 after buying an additional 953,793 shares in the last quarter. BlackRock Inc. grew its stake in shares of TE Connectivity by 4.3% in the second quarter. BlackRock Inc. now owns 16,809,367 shares of the electronics maker’s stock valued at $1,610,001,000 after buying an additional 698,506 shares in the last quarter. Finally, Waddell & Reed Financial Inc. raised its holdings in shares of TE Connectivity by 25.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,959,840 shares of the electronics maker’s stock valued at $187,713,000 after buying an additional 401,754 shares during the period. 90.50% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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