TE Connectivity (NYSE:TEL) Price Target Lowered to $163.00 at Truist Financial

TE Connectivity (NYSE:TEL) had its price target cut by Truist Financial from $165.00 to $163.00 in a research note released on Thursday morning,Benzinga reports. They currently have a hold rating on the electronics maker’s stock.

Several other equities analysts have also recently weighed in on TEL. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Stock Up 1.1 %

Shares of TE Connectivity stock opened at $156.73 on Thursday. The firm has a market cap of $46.78 billion, a PE ratio of 25.04, a P/E/G ratio of 2.12 and a beta of 1.32. The business’s 50 day simple moving average is $147.43 and its 200 day simple moving average is $148.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. TE Connectivity has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last announced 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 business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. On average, analysts predict that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a stock repurchase 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the 4th quarter worth about $26,000. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% during 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 period. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares in the last quarter. Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth approximately $55,000. Finally, Webster Bank N. A. bought a new position in TE Connectivity during the 4th quarter worth $61,000. Institutional investors and hedge funds 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.