Bank of America Forecasts Strong Price Appreciation for TE Connectivity (NYSE:TEL) Stock

TE Connectivity (NYSE:TEL) had its price target lifted by equities researchers at Bank of America from $167.00 to $170.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Bank of America‘s price target suggests a potential upside of 9.93% from the stock’s current price.

TEL has been the subject of several other reports. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Citigroup upped their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group reduced their price target 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, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Eight investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Stock Down 1.5 %

NYSE:TEL opened at $154.64 on Thursday. The firm has a market capitalization of $46.16 billion, a P/E ratio of 24.70, a PEG ratio of 2.12 and a beta of 1.32. The company’s fifty day moving average price is $147.49 and its 200-day moving average price is $148.86. TE Connectivity has a 1-year low of $137.61 and a 1-year 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.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 analyst estimates of $3,916,310.63 billion. During the same quarter last year, the business posted $1.84 EPS. The company’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity will post 8.1 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. lifted its position in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Hilltop National Bank purchased a new stake in TE Connectivity in the 4th quarter valued at $55,000. Finally, Webster Bank N. A. acquired a new stake in shares of TE Connectivity in the 4th quarter worth $61,000. 91.43% of the stock is currently 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.