TE Connectivity (NYSE:TEL) Given New $163.00 Price Target at Truist Financial

TE Connectivity (NYSE:TEL) had its price target decreased by equities researchers at Truist Financial from $165.00 to $163.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the electronics maker’s stock. Truist Financial’s price objective points to a potential upside of 5.40% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $154.64 on Thursday. The stock has a market capitalization of $46.16 billion, a PE ratio of 24.70, a P/E/G ratio of 2.12 and a beta of 1.32. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.08. The business has a fifty day moving average price of $147.49 and a two-hundred day moving average price of $148.86.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating 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 business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts predict that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

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

Institutional Trading of TE Connectivity

Several institutional investors have recently modified their holdings of TEL. abrdn plc acquired a new position in TE Connectivity during the 4th quarter worth about $15,739,000. Greenleaf Trust bought a new position in shares of TE Connectivity during the fourth quarter worth about $1,373,000. Spire Wealth Management lifted its stake in shares of TE Connectivity by 1,156.7% in the fourth quarter. Spire Wealth Management now owns 842 shares of the electronics maker’s stock worth $120,000 after acquiring an additional 775 shares during the period. OLD National Bancorp IN boosted its holdings in TE Connectivity by 31.8% in the fourth quarter. OLD National Bancorp IN now owns 3,265 shares of the electronics maker’s stock valued at $467,000 after acquiring an additional 787 shares during the last quarter. Finally, First Affirmative Financial Network raised its holdings in TE Connectivity by 5.6% during the 4th quarter. First Affirmative Financial Network now owns 2,996 shares of the electronics maker’s stock worth $428,000 after purchasing an additional 158 shares during the last quarter. 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.