What’s in TE Connectivity Ltd. (TEL) After Forming Bearish Wedge Down Pattern?

October 2, 2018 - By Hugh Holland

TE Connectivity Ltd. (NYSE:TEL) Logo

Investors sentiment increased to 1.08 in Q2 2018. Its up 0.26, from 0.82 in 2018Q1. It increased, as 44 investors sold TE Connectivity Ltd. shares while 195 reduced holdings. 66 funds opened positions while 193 raised stakes. 300.20 million shares or 3.08% less from 309.75 million shares in 2018Q1 were reported.
First Natl Tru Com owns 3,568 shares. Aperio Gru Ltd reported 0.07% in TE Connectivity Ltd. (NYSE:TEL). Tompkins Financial has 5,685 shares for 0.11% of their portfolio. Gideon Cap Advsr holds 3,758 shares or 0.17% of its portfolio. Regentatlantic Capital Limited Liability Corp has invested 0.1% in TE Connectivity Ltd. (NYSE:TEL). Aqr Cap Lc accumulated 1.92M shares. M&T Bancorp holds 74,213 shares or 0.04% of its portfolio. First Citizens Bank And Tru Communication owns 26,851 shares. Creative Planning stated it has 0.01% in TE Connectivity Ltd. (NYSE:TEL). Stevens Mngmt Lp accumulated 174,981 shares or 0.56% of the stock. Manchester Capital Limited Liability Com has 1,073 shares for 0.01% of their portfolio. Advisory Services Ltd Limited Liability Company invested 0.01% of its portfolio in TE Connectivity Ltd. (NYSE:TEL). Prudential Public Lc holds 0% in TE Connectivity Ltd. (NYSE:TEL) or 2,451 shares. Bank & Trust Of Hawaii owns 11,183 shares. Dupont Cap Mngmt Corp stated it has 0.38% in TE Connectivity Ltd. (NYSE:TEL).

Since May 21, 2018, it had 0 insider buys, and 1 sale for $1.65 million activity.

The stock of TE Connectivity Ltd. (TEL) formed a down wedge with $84.23 target or 3.00 % below today’s $86.83 share price. The 5 months wedge indicates high risk for the $30.26B company. If the $84.23 price target is reached, the company will be worth $907.71M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.25% or $1.1 during the last trading session, reaching $86.83. About 2.78 million shares traded or 58.48% up from the average. TE Connectivity Ltd. (NYSE:TEL) has risen 11.41% since October 2, 2017 and is uptrending. It has underperformed by 4.21% the S&P500.

Analysts await TE Connectivity Ltd. (NYSE:TEL) to report earnings on November, 7. They expect $1.33 earnings per share, up 6.40 % or $0.08 from last year’s $1.25 per share. TEL’s profit will be $463.46 million for 16.32 P/E if the $1.33 EPS becomes a reality. After $1.43 actual earnings per share reported by TE Connectivity Ltd. for the previous quarter, Wall Street now forecasts -6.99 % negative EPS growth.

TE Connectivity Ltd. (NYSE:TEL) Ratings Coverage

Among 4 analysts covering TE Connectivity (NYSE:TEL), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. TE Connectivity had 7 analyst reports since April 17, 2018 according to SRatingsIntel. The rating was maintained by Morgan Stanley with “Overweight” on Thursday, April 26. The stock of TE Connectivity Ltd. (NYSE:TEL) has “Neutral” rating given on Monday, October 1 by Robert W. Baird. Robert W. Baird maintained the stock with “Buy” rating in Tuesday, April 17 report. Wells Fargo maintained TE Connectivity Ltd. (NYSE:TEL) rating on Tuesday, July 17. Wells Fargo has “Outperform” rating and $115 target. Morgan Stanley maintained the shares of TEL in report on Monday, September 17 with “Overweight” rating. The firm earned “Neutral” rating on Wednesday, April 18 by Goldman Sachs. The firm earned “Overweight” rating on Thursday, July 26 by Morgan Stanley.

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 Asia–Pacific. The company has market cap of $30.26 billion. The firm operates through three divisions: Transportation Solutions, Industrial Solutions, and Communications Solutions. It has a 23.05 P/E ratio. The Transportation Solutions segment primarily provides terminals and connector systems and components, sensors, and relays, as well as application tooling and wires, and heat shrink tubing for use in the automotive, commercial transportation, and sensor markets.

TE Connectivity Ltd. (NYSE:TEL) Ratings Chart

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