TE Connectivity (NYSE:TEL) Price Target Raised to $168.00 at Robert W. Baird

TE Connectivity (NYSE:TEL) had its target price raised by Robert W. Baird from $162.00 to $168.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the electronics maker’s stock.

Several other research analysts also recently issued reports on the company. 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 note on Thursday, October 31st. Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. Seven equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

TE Connectivity Stock Performance

NYSE:TEL opened at $156.73 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm’s fifty day simple moving average is $147.43 and its 200-day simple moving average is $148.80. The stock has a market cap of $46.78 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3,916,310.63 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. Analysts expect that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of TE Connectivity

Several large investors have recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. boosted 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 worth $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $55,000. Finally, Webster Bank N. A. acquired a new position in shares of TE Connectivity during the fourth 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.