TE Connectivity (NYSE:TEL) Price Target Raised to $168.00

TE Connectivity (NYSE:TEL) had its target price raised by investment analysts at Robert W. Baird from $162.00 to $168.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the electronics maker’s stock. Robert W. Baird’s target price points to a potential upside of 8.59% from the stock’s previous close.

Several other brokerages have also issued reports on TEL. Citigroup boosted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. 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 cut their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $160.91.

TE Connectivity Price Performance

TE Connectivity stock opened at $154.72 on Thursday. The firm has a market capitalization of $46.18 billion, a P/E ratio of 15.06, a PEG ratio of 2.02 and a beta of 1.32. TE Connectivity has a 1 year low of $133.57 and a 1 year high of $159.98. The business has a 50-day moving average of $147.43 and a 200-day moving average of $148.80. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3,916,310.63 billion. During the same period in the previous year, the firm earned $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that TE Connectivity will post 8.1 EPS for the current year.

TE Connectivity announced that its Board of Directors has initiated a share repurchase 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 often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after acquiring an additional 268,837 shares during the period. Ameriprise Financial Inc. raised its stake in TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the period. Geode Capital Management LLC raised its stake in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after acquiring an additional 75,658 shares during the period. EdgePoint Investment Group Inc. raised its stake in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after acquiring an additional 694,917 shares during the period. Finally, Franklin Resources Inc. raised its stake in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after acquiring an additional 712,228 shares during the period. Institutional investors 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.