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

TE Connectivity (NYSE:TEL) had its target price boosted by Wells Fargo & Company from $151.00 to $155.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the electronics maker’s stock.

Several other equities research analysts have also commented on TEL. Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective 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. Finally, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

TE Connectivity Trading Down 1.5 %

NYSE TEL opened at $154.64 on Thursday. The company has a 50-day moving average of $147.62 and a 200-day moving average of $148.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.08. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a market cap of $46.16 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly 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 net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same quarter last year, the firm posted $1.84 earnings per share. TE Connectivity’s revenue was up .1% on a year-over-year basis. As a group, equities analysts predict that TE Connectivity will post 8.1 earnings per share 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 repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of TE Connectivity

Several institutional investors have recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $26,000. Armstrong Advisory Group Inc. boosted its holdings in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC grew its position in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. Hilltop National Bank acquired a new position in TE Connectivity in the fourth quarter valued at approximately $55,000. Finally, Webster Bank N. A. bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $61,000. 91.43% of the stock is owned by institutional investors and hedge funds.

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.