TE Connectivity (NYSE:TEL) Given New $151.00 Price Target at Wells Fargo & Company

TE Connectivity (NYSE:TEL) had its target price cut by Wells Fargo & Company from $153.00 to $151.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.

A number of other research firms have also recently commented on TEL. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their target price 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.36.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $149.95 on Monday. TE Connectivity has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The business has a 50-day moving average of $150.21 and a two-hundred day moving average of $149.78. The stock has a market capitalization of $44.86 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that TE Connectivity will post 8.14 EPS for the current fiscal year.

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

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. State Street Corp raised its position in shares of TE Connectivity by 2.1% during 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 buying an additional 268,837 shares in the last quarter. Ameriprise Financial Inc. lifted its position in TE Connectivity by 26.2% during 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 boosted its stake in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after buying an additional 223,842 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

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.