TE Connectivity (NYSE:TEL) Price Target Raised to $170.00 at Bank of America

TE Connectivity (NYSE:TEL) had its target price upped by Bank of America from $167.00 to $170.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research note on Thursday, October 31st. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their target price on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Stock Up 1.1 %

TEL opened at $156.73 on Thursday. The company has a fifty day moving average of $147.43 and a two-hundred day moving average of $148.80. The stock has a market capitalization of $46.78 billion, a price-to-earnings ratio of 25.04, a PEG 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 quick ratio of 1.08 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last announced 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. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. On average, research analysts expect 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 buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity during the fourth quarter worth $26,000. Armstrong Advisory Group Inc. raised its holdings in 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 buying an additional 150 shares during the period. 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 period. Hilltop National Bank acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $55,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $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.