Brokerages Set TE Connectivity Ltd. (NYSE:TEL) PT at $160.70

TE Connectivity Ltd. (NYSE:TEL) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $160.70.

A number of brokerages have issued reports on TEL. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st.

TE Connectivity Stock Up 0.2 %

TE Connectivity stock opened at $141.16 on Thursday. The firm has a market cap of $42.23 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. TE Connectivity has a 52 week low of $128.52 and a 52 week high of $159.98. The business’s 50-day moving average price is $148.46 and its 200 day moving average price is $148.93. 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 (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity will post 8.14 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. Private Advisor Group LLC lifted its position in TE Connectivity by 45.3% during the second quarter. Private Advisor Group LLC now owns 15,549 shares of the electronics maker’s stock worth $2,339,000 after buying an additional 4,850 shares in the last quarter. Choreo LLC acquired a new stake in TE Connectivity during the second quarter worth $1,362,000. LGT Group Foundation acquired a new stake in TE Connectivity during the second quarter worth $222,000. Dorsey & Whitney Trust CO LLC increased its stake in TE Connectivity by 31.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,404 shares of the electronics maker’s stock worth $362,000 after acquiring an additional 569 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in TE Connectivity during the second quarter worth $9,582,000. Hedge funds and other 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.