TE Connectivity (NYSE:TEL) Price Target Raised to $170.00 at Bank of America

TE Connectivity (NYSE:TEL) had its price target upped by Bank of America from $167.00 to $170.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the electronics maker’s stock.

A number of other brokerages also recently commented on TEL. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a report on Thursday, October 31st. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Finally, 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 research note on Tuesday, October 1st. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Trading Up 1.1 %

NYSE:TEL opened at $156.73 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a 50-day simple moving average of $147.43 and a 200-day simple moving average of $148.80. TE Connectivity has a one year low of $137.61 and a one year high of $159.98. The firm has a market cap of $46.78 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.12 and a beta of 1.32.

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

TE Connectivity announced that its board has approved a share buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its stake in TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after acquiring an additional 9,670 shares during the period. Glenmede Trust Co. NA lifted its position in TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the period. Venturi Wealth Management LLC boosted its holdings in 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 valued at $989,000 after purchasing an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd grew its position in TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of TE Connectivity by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after buying an additional 12,140 shares during the last quarter. 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.