Wells Fargo & Company Cuts TE Connectivity (NYSE:TEL) Price Target to $151.00

TE Connectivity (NYSE:TEL) had its price objective trimmed by Wells Fargo & Company from $153.00 to $151.00 in a report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the electronics maker’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research note on Thursday, October 31st. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $159.36.

TE Connectivity Trading Down 2.1 %

Shares of TE Connectivity stock opened at $144.78 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The company has a fifty day moving average of $150.20 and a 200 day moving average of $149.74. The company has a market capitalization of $43.31 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.04 and a beta of 1.32. TE Connectivity has a fifty-two week low of $128.52 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. On average, sell-side analysts anticipate that TE Connectivity will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of TE Connectivity

Hedge funds have recently bought and sold shares of the stock. Optas LLC raised its position in shares of TE Connectivity by 4.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 71 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in TE Connectivity by 3.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 76 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of TE Connectivity by 3.6% during the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after buying an additional 85 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of TE Connectivity by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after buying an additional 96 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of TE Connectivity by 2.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.