Analysts at Morgan Stanley reiterated a Buy rating on shares of TE Connectivity Ltd. (NYSE: TEL) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street.With a rating of Buy on the shares, TE Connectivity Ltd. has a 52-week high of $67.99. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and TE Connectivity Ltd. has secured a consensus one-year price target of $68.44, higher than the opening price of $62.59, a difference of 10.95 percent. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Shares of TE Connectivity Ltd. (NYSE: TEL) opened at $62.59 yesterday trading between $62.43 and $62.84, and last traded at $62.53, a spike of $0.24 over the previous closing price.
TE Connectivity Ltd. (NYSE: TEL) now has a market cap of 22.23B.
200,941 shares crossed the trading desk yesterday, 82 percent lower than normal, out of a total float 354,454,000. Swing traders often use upticks in trading volume to pinpoint heavy volume accumulation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, a single day of significant buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that research thousands of stocks, so it is good confirmation to see them buying a stock you’re researching.
By following the activity of these professional investors and how they influence moving averages, traders can make educated trades.
With that in mind, TE Connectivity Ltd. (NYSE: TEL) now has a 50-day MA of $61.49 and 200-day MA of $60.44. It has traded in a 52-week range between $51.70 – 67.99 and today’s last price is 0.08% lower than the 52 week high of $67.99.
Earnings growth is an important factor to consider when buying stocks and investors identify companies that have increased their earnings by at least 25% over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.