TE Connectivity (NYSE:TEL) Given New $155.00 Price Target at Wells Fargo & Company

TE Connectivity (NYSE:TEL) had its price target upped by Wells Fargo & Company from $151.00 to $155.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.

A number of other equities research analysts have also commented on the stock. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday. The Goldman Sachs Group dropped their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and an average price target of $165.00.

TE Connectivity Stock Performance

TE Connectivity stock opened at $156.73 on Thursday. TE Connectivity has a 12-month low of $137.61 and a 12-month high of $159.98. The stock has a 50-day simple moving average of $147.43 and a 200 day simple moving average of $148.80. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $46.78 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 2.12 and a beta of 1.32.

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 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 business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same quarter in the previous year, the business posted $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts anticipate that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire 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.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its position in shares of TE Connectivity by 5.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,804 shares of the electronics maker’s stock valued at $422,000 after purchasing an additional 139 shares during the period. Public Sector Pension Investment Board raised its holdings in TE Connectivity by 62.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 11,476 shares of the electronics maker’s stock valued at $1,726,000 after acquiring an additional 4,415 shares during the period. Insigneo Advisory Services LLC raised its holdings in TE Connectivity by 64.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 4,422 shares of the electronics maker’s stock valued at $634,000 after acquiring an additional 1,741 shares during the period. AXA S.A. grew its position in shares of TE Connectivity by 3.3% in the second quarter. AXA S.A. now owns 502,261 shares of the electronics maker’s stock valued at $75,555,000 after purchasing an additional 16,164 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of TE Connectivity by 71.3% in the second quarter. AQR Capital Management LLC now owns 431,626 shares of the electronics maker’s stock valued at $64,860,000 after purchasing an additional 179,594 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

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.