TE Connectivity (NYSE:TEL) Given New $170.00 Price Target at Bank of America

TE Connectivity (NYSE:TEL) had its price target upped by research analysts at Bank of America from $167.00 to $170.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Bank of America‘s price target points to a potential upside of 9.88% from the stock’s current price.

A number of other research firms also recently issued reports on TEL. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, Citigroup upped their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $161.36.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $154.72 on Thursday. The firm has a market cap of $46.18 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 2.02 and a beta of 1.32. The firm has a fifty day moving average price of $147.43 and a 200 day moving average price of $148.80. TE Connectivity has a fifty-two week low of $133.57 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business’s revenue was up .1% on a year-over-year basis. As a group, sell-side 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 initiated a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter worth $26,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank purchased a new position in TE Connectivity during the 4th quarter valued at about $55,000. Finally, Webster Bank N. A. bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $61,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

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.