TE Connectivity (NYSE:TEL - Free Report) had its target price trimmed by Wells Fargo & Company from $153.00 to $151.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the electronics maker's stock.
Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 4th. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Finally, Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TE Connectivity currently has a consensus rating of "Hold" and a consensus price target of $159.36.
View Our Latest Stock Report on TEL
TE Connectivity Stock Performance
Shares of TEL stock traded down $0.14 during trading hours on Monday, reaching $149.95. 1,751,457 shares of the company traded hands, compared to its average volume of 1,793,138. The firm has a 50-day moving average price of $150.10 and a 200 day moving average price of $149.77. The company has a market cap of $44.86 billion, a P/E ratio of 14.67, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity has a 12-month low of $128.52 and a 12-month high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. As a group, sell-side analysts predict that TE Connectivity will post 8.14 earnings per share for the current fiscal year.
TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Institutional Trading of TE Connectivity
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock valued at $944,791,000 after buying an additional 1,304,199 shares in the last quarter. Geode Capital Management LLC boosted its position in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock valued at $899,681,000 after buying an additional 75,658 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after acquiring an additional 694,917 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker's stock valued at $469,113,000 after acquiring an additional 223,842 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Company Profile
(
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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.
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