TE Connectivity Ltd (NYSE:TEL) – Research analysts at SunTrust Banks increased their Q3 2019 earnings estimates for shares of TE Connectivity in a report released on Wednesday, October 31st. SunTrust Banks analyst W. Stein now forecasts that the electronics maker will post earnings per share of $1.56 for the quarter, up from their prior estimate of $1.50. SunTrust Banks currently has a “Hold” rating and a $82.00 target price on the stock.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.02. TE Connectivity had a return on equity of 20.06% and a net margin of 17.69%. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. TE Connectivity’s revenue was up 8.5% on a year-over-year basis.
TEL has been the subject of a number of other research reports. Wells Fargo & Co decreased their target price on TE Connectivity from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. Macquarie began coverage on TE Connectivity in a research report on Monday, October 8th. They issued an “outperform” rating for the company. Royal Bank of Canada set a $114.00 target price on TE Connectivity and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Morgan Stanley decreased their target price on TE Connectivity from $117.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, July 26th. Finally, Zacks Investment Research lowered TE Connectivity from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $108.00.
Shares of NYSE:TEL opened at $78.40 on Monday. TE Connectivity has a fifty-two week low of $73.70 and a fifty-two week high of $108.23. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.16.
Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia grew its stake in shares of TE Connectivity by 2.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 40,187 shares of the electronics maker’s stock valued at $3,614,000 after purchasing an additional 879 shares during the period. HPM Partners LLC grew its stake in shares of TE Connectivity by 43.5% during the 2nd quarter. HPM Partners LLC now owns 5,697 shares of the electronics maker’s stock valued at $513,000 after purchasing an additional 1,728 shares during the period. AMP Capital Investors Ltd grew its stake in shares of TE Connectivity by 7.9% during the 2nd quarter. AMP Capital Investors Ltd now owns 169,363 shares of the electronics maker’s stock valued at $15,254,000 after purchasing an additional 12,364 shares during the period. Advisors Asset Management Inc. grew its stake in shares of TE Connectivity by 1,066.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,233 shares of the electronics maker’s stock valued at $498,000 after purchasing an additional 6,613 shares during the period. Finally, Bridgewater Associates LP grew its stake in shares of TE Connectivity by 758.6% during the 2nd quarter. Bridgewater Associates LP now owns 262,904 shares of the electronics maker’s stock valued at $23,677,000 after purchasing an additional 232,285 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the AsiaPacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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