Royal Bank of Canada Reiterates Outperform Rating for TE Connectivity Ltd (TEL)

TE Connectivity Ltd (NYSE:TEL)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Saturday. They currently have a $86.00 price objective on the electronics maker’s stock, up from their previous price objective of $82.00. Royal Bank of Canada’s target price points to a potential upside of 11.15% from the stock’s current price.

A number of other brokerages also recently issued reports on TEL. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Tuesday, March 14th. Longbow Research upgraded TE Connectivity from a “neutral” rating to a “buy” rating in a report on Thursday, January 12th. Morgan Stanley restated an “overweight” rating and set a $87.00 price target (up previously from $85.00) on shares of TE Connectivity in a report on Friday. Cowen and Company initiated coverage on TE Connectivity in a report on Tuesday, March 21st. They set an “outperform” rating and a $90.00 price target on the stock. Finally, Deutsche Bank AG restated a “hold” rating and set a $82.00 price target (up previously from $75.00) on shares of TE Connectivity in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $82.00.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

TE Connectivity (NYSE:TEL) traded up 0.49% on Friday, hitting $77.37. The company’s stock had a trading volume of 1,416,409 shares. The stock has a market cap of $27.49 billion, a PE ratio of 13.54 and a beta of 1.16. The firm has a 50 day moving average of $74.43 and a 200-day moving average of $70.69. TE Connectivity has a 12 month low of $54.54 and a 12 month high of $79.69.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. TE Connectivity had a return on equity of 19.26% and a net margin of 16.56%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, analysts expect that TE Connectivity will post $4.62 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was posted by Watch List News and is owned by of Watch List News. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at http://www.watchlistnews.com/royal-bank-of-canada-reiterates-outperform-rating-for-te-connectivity-ltd-tel/1228941.html.

In related news, insider James O’toole sold 32,688 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $73.40, for a total transaction of $2,399,299.20. Following the transaction, the insider now owns 32,688 shares in the company, valued at approximately $2,399,299.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 131,875 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $73.60, for a total value of $9,706,000.00. Following the transaction, the insider now owns 450,662 shares in the company, valued at approximately $33,168,723.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 596,255 shares of company stock worth $44,499,970. 1.49% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. boosted its stake in TE Connectivity by 0.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,590 shares of the electronics maker’s stock valued at $457,000 after buying an additional 26 shares during the last quarter. First National Bank & Trust Co. of Newtown boosted its stake in TE Connectivity by 0.4% in the first quarter. First National Bank & Trust Co. of Newtown now owns 10,870 shares of the electronics maker’s stock valued at $811,000 after buying an additional 45 shares during the last quarter. Creative Planning boosted its stake in TE Connectivity by 0.3% in the first quarter. Creative Planning now owns 19,168 shares of the electronics maker’s stock valued at $1,429,000 after buying an additional 48 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in TE Connectivity by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,370 shares of the electronics maker’s stock valued at $1,411,000 after buying an additional 63 shares during the last quarter. Finally, SRB Corp boosted its stake in TE Connectivity by 3.8% in the third quarter. SRB Corp now owns 2,483 shares of the electronics maker’s stock valued at $160,000 after buying an additional 92 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Company Profile

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.

5 Day Chart for NYSE:TEL

Receive News & Ratings for TE Connectivity Ltd Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for TE Connectivity Ltd and related companies with Analyst Ratings Network’s FREE daily email newsletter.