TE Connectivity (NYSE:TEL) Price Target Raised to $165.00

TE Connectivity (NYSE:TEL) had its target price boosted by Citigroup from $160.00 to $165.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

Several other analysts also recently weighed in on TEL. Bank of America dropped their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Trading Down 1.5 %

TEL opened at $154.64 on Wednesday. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98. The stock has a fifty day moving average price of $147.49 and a 200-day moving average price of $148.86. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. The firm has a market cap of $46.16 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a share repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently bought and sold shares of TEL. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity in the 4th quarter worth about $26,000. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% in the 3rd 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 holdings in TE Connectivity by 2,450.0% in 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 period. Hilltop National Bank acquired a new position in TE Connectivity in the 4th quarter worth about $55,000. Finally, Webster Bank N. A. acquired a new position in TE Connectivity in the 4th quarter worth about $61,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

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.