TE Connectivity Ltd. (NYSE:TEL) Receives $159.55 Average PT from Analysts

Shares of TE Connectivity Ltd. (NYSE:TEL) have received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $159.55.

A number of brokerages have recently issued reports on TEL. StockNews.com initiated coverage on TE Connectivity in a research note on Sunday. They issued a “buy” rating on the stock. Wells Fargo & Company lowered their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st.

Institutional Investors Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in TE Connectivity during the second quarter worth about $30,000. Armstrong Advisory Group Inc. grew 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 during the period. Bank & Trust Co acquired a new position in TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC grew its position 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. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 1.9 %

TEL stock opened at $149.84 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a 52-week low of $128.52 and a 52-week high of $159.98. The company’s 50-day simple moving average is $149.14 and its 200-day simple moving average is $149.67. The firm has a market cap of $44.83 billion, a P/E ratio of 14.59, a PEG ratio of 2.07 and a beta of 1.33.

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

TE Connectivity declared that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.