Wells Fargo & Company Forecasts Strong Price Appreciation for TE Connectivity (NYSE:TEL) Stock

TE Connectivity (NYSE:TEL) had its price target lifted by analysts at Wells Fargo & Company from $151.00 to $155.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 0.51% from the company’s previous close.

Several other equities research analysts also recently commented on TEL. The Goldman Sachs Group dropped 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. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $164.36.

TE Connectivity Trading Up 4.0 %

NYSE TEL opened at $154.22 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a twelve month low of $133.57 and a twelve month high of $159.98. The firm has a market capitalization of $46.03 billion, a PE ratio of 15.00, a P/E/G ratio of 2.02 and a beta of 1.32. The stock’s 50 day moving average is $147.43 and its 200 day moving average is $148.80.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business 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 company posted $1.84 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts forecast that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently modified their holdings of TEL. Nomura Asset Management Co. Ltd. raised its holdings in shares of TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after buying an additional 23,755 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after buying an additional 6,169 shares during the period. Waverton Investment Management Ltd raised its holdings in shares of TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after buying an additional 106,688 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of TE Connectivity by 21.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after buying an additional 12,140 shares during the period. 91.43% of the stock is owned by institutional investors.

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.