Wells Fargo & Company Raises TE Connectivity (NYSE:TEL) Price Target to $155.00

TE Connectivity (NYSE:TEL) had its price objective increased by Wells Fargo & Company from $151.00 to $155.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.

TEL has been the subject of several other research reports. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. 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. Finally, Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

TE Connectivity Stock Up 1.1 %

Shares of TEL opened at $156.73 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98. The firm’s 50 day moving average is $147.43 and its 200-day moving average is $148.80. The stock has a market capitalization of $46.78 billion, a PE ratio of 25.04, a P/E/G ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping 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 18.82% and a net margin of 12.10%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. Equities research analysts forecast that TE Connectivity will post 8.1 EPS for the current year.

TE Connectivity announced that its board has authorized a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity in the 4th quarter valued at approximately $26,000. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC raised its position in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the last quarter. Hilltop National Bank acquired a new position in TE Connectivity during the 4th quarter worth about $55,000. Finally, Webster Bank N. A. bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $61,000. 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.