Brokerages Set TE Connectivity Ltd. (NYSE:TEL) PT at $161.82

TE Connectivity Ltd. (NYSE:TEL) has received a consensus recommendation of “Hold” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $159.55.

TEL has been the subject of a number of recent analyst reports. Bank of America reduced their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group lowered their price target 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. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com started coverage on TE Connectivity in a report on Thursday. They set a “buy” rating on the stock. Finally, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday.

TE Connectivity Stock Performance

Shares of TEL stock opened at $150.02 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 1.61. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.00 and a beta of 1.33. TE Connectivity has a 52 week low of $122.30 and a 52 week high of $159.98. The firm’s 50-day simple moving average is $147.94 and its two-hundred day simple moving average is $148.45.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data 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 the consensus estimate of $4 billion. During the same period last year, the firm earned $1.78 EPS. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity will post 8.16 earnings per share for the current year.

TE Connectivity announced that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently bought and sold shares of TEL. Versant Capital Management Inc lifted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new position in TE Connectivity during the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Bank & Trust Co bought a new position in TE Connectivity in the second quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC raised its holdings 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 worth $39,000 after purchasing an additional 245 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

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.