Citigroup Issues Positive Forecast for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL) had its price target boosted by equities research analysts at Citigroup from $160.00 to $165.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Citigroup’s target price would indicate a potential upside of 5.28% from the stock’s previous close.

A number of other equities analysts have also recently commented on 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 18th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

TE Connectivity Trading Up 1.1 %

NYSE TEL opened at $156.73 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $147.43 and its two-hundred day simple moving average is $148.80. TE Connectivity has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a market capitalization of $46.78 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.02 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same period last year, the firm posted $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts forecast that TE Connectivity will post 8.1 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TE Connectivity

Institutional investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. grew its stake in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. 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. Hilltop National Bank purchased a new position in TE Connectivity during the fourth quarter valued at $55,000. Finally, Webster Bank N. A. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $61,000. 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.