Wells Fargo & Company Increases TE Connectivity (NYSE:TEL) Price Target to $155.00

TE Connectivity (NYSE:TEL) had its price target lifted by Wells Fargo & Company from $151.00 to $155.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 0.23% from the stock’s previous close.

Several other analysts have also recently commented on the company. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group dropped their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday. Eight 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $154.64 on Thursday. The company has a 50-day simple moving average of $147.49 and a 200-day simple moving average of $148.86. 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 company has a market cap of $46.16 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98.

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

TE Connectivity announced that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding 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 often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the fourth quarter worth about $26,000. Armstrong Advisory Group Inc. raised its position in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake 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 stake in shares of TE Connectivity during the fourth quarter worth approximately $55,000. Finally, Webster Bank N. A. bought a new stake in shares of TE Connectivity in the fourth quarter worth $61,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.