TE Connectivity (NYSE:TEL) Price Target Cut to $169.00 by Analysts at JPMorgan Chase & Co.

TE Connectivity (NYSE:TEL) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $170.00 to $169.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 20.56% from the company’s current price.

TEL has been the topic of a number of other reports. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. StockNews.com initiated coverage on TE Connectivity in a research note on Monday. They set a “buy” rating on the stock. Citigroup initiated coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.50.

TE Connectivity Stock Performance

Shares of TEL stock traded up $0.18 during trading hours on Thursday, reaching $140.18. 1,759,498 shares of the company’s stock were exchanged, compared to its average volume of 2,195,066. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The stock has a market capitalization of $43.57 billion, a P/E ratio of 13.30, a P/E/G ratio of 2.04 and a beta of 1.39. The business has a fifty day moving average price of $142.65 and a 200-day moving average price of $136.02. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the business posted $1.65 earnings per share. TE Connectivity’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts predict that TE Connectivity will post 7.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Lee Danner & Bass Inc. grew its stake in TE Connectivity by 2.5% in the fourth quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock valued at $433,000 after purchasing an additional 74 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in TE Connectivity by 0.6% in the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 75 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its stake in TE Connectivity by 3.2% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock valued at $348,000 after purchasing an additional 78 shares in the last quarter. Perpetual Ltd grew its stake in TE Connectivity by 4.1% in the first quarter. Perpetual Ltd now owns 1,990 shares of the electronics maker’s stock valued at $289,000 after purchasing an additional 78 shares in the last quarter. Finally, Vista Investment Management grew its stake in TE Connectivity by 0.7% in the third quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock valued at $1,479,000 after purchasing an additional 84 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.