According to Zacks, “TE Connectivity has a decent earnings surprise history, beating estimates thrice in the trailing four quarters. Robust growth in harsh environment and SubCom businesses, along with productivity improvements, boosted growth in the last reported quarter. Strong traction in the connectivity and sensor business, sales growth and design-wins in automotive & integrated multiple components, and rebound in transportation business were key growth drivers. However, sluggish industrial markets, weakness in oil & gas markets and derivative impact of lower oil prices are posing as major headwinds, thwarting growth. Also, adverse currency fluctuations and high restructuring expenses might hurt the company’s performance. Going forward, industrial, data & devices, and communications businesses are expected to be impacted by the weakness in Chinese economy. “
Several other brokerages have also weighed in on TEL. Morgan Stanley reissued a buy rating on shares of TE Connectivity in a report on Tuesday, September 20th. Deutsche Bank AG reissued a hold rating and set a $65.00 price objective on shares of TE Connectivity in a report on Wednesday, June 15th. Royal Bank Of Canada decreased their price objective on TE Connectivity from $66.00 to $63.00 and set an outperform rating on the stock in a report on Friday, July 1st. Finally, RBC Capital Markets reissued an outperform rating and set a $65.00 price objective (up previously from $63.00) on shares of TE Connectivity in a report on Thursday, July 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $64.33.
Shares of TE Connectivity (NYSE:TEL) traded down 2.17% during trading on Wednesday, reaching $60.84. The company had a trading volume of 313,212 shares. TE Connectivity has a 12 month low of $51.70 and a 12 month high of $67.99. The stock has a 50 day moving average price of $63.16 and a 200 day moving average price of $60.86. The firm has a market capitalization of $21.63 billion, a PE ratio of 8.88 and a beta of 1.41.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.05. TE Connectivity had a return on equity of 16.72% and a net margin of 21.97%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm earned $0.90 EPS. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity will post $4.01 EPS for the current year.
In related news, insider James O’toole sold 13,925 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $61.40, for a total value of $854,995.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert N. Shaddock sold 11,800 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $61.25, for a total value of $722,750.00. Following the completion of the sale, the executive vice president now directly owns 46,274 shares in the company, valued at approximately $2,834,282.50. The disclosure for this sale can be found here. 1.49% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of TE Connectivity by 106.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,274 shares of the company’s stock valued at $130,000 after buying an additional 1,174 shares in the last quarter. Financial Architects Inc increased its position in shares of TE Connectivity by 41.9% in the second quarter. Financial Architects Inc now owns 2,416 shares of the company’s stock valued at $138,000 after buying an additional 713 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of TE Connectivity by 0.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,594 shares of the company’s stock valued at $148,000 after buying an additional 19 shares during the last quarter. Signaturefd LLC increased its position in shares of TE Connectivity by 8.5% in the second quarter. Signaturefd LLC now owns 3,208 shares of the company’s stock valued at $183,000 after buying an additional 252 shares during the last quarter. Finally, Bienville Capital Management LLC acquired a new position in shares of TE Connectivity during the second quarter valued at about $202,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.
About TE Connectivity
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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