TE Connectivity (NYSE:TEL) Price Target Raised to $168.00

TE Connectivity (NYSE:TEL) had its price target boosted by analysts at Robert W. Baird from $162.00 to $168.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the electronics maker’s stock. Robert W. Baird’s price objective suggests a potential upside of 8.59% from the company’s current price.

Other analysts have also issued reports about the company. Bank of America reduced their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. Citigroup upped their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One investment 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 company. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and an average price target of $160.91.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $154.72 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock’s fifty day moving average price is $147.43 and its two-hundred day moving average price is $148.80. TE Connectivity has a one year low of $133.57 and a one year high of $159.98. The firm has a market cap of $46.18 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 2.02 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. On average, equities analysts forecast that TE Connectivity will post 8.1 EPS for the current year.

TE Connectivity declared that its board has approved a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On TE Connectivity

Several large investors have recently bought and sold shares of TEL. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. raised its position in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Hilltop National Bank acquired a new position in shares of TE Connectivity in the fourth quarter worth approximately $55,000. Finally, Webster Bank N. A. acquired a new position in shares of TE Connectivity in the fourth quarter worth approximately $61,000. 91.43% of the stock is currently owned by institutional investors.

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.