TE Connectivity (NYSE:TEL) Given New $168.00 Price Target 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 report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the electronics maker’s stock.

Other analysts have also issued reports about the company. Citigroup boosted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price target on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Seven research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

TE Connectivity Stock Performance

Shares of TEL opened at $156.73 on Thursday. The firm has a market cap of $46.78 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $147.43 and its two-hundred day moving average is $148.80. TE Connectivity has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. Analysts forecast that TE Connectivity will post 8.1 EPS for the current fiscal year.

TE Connectivity declared that its board has approved a share buyback 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 buy 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.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. State Street Corp increased its position in shares of TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the period. Ameriprise Financial Inc. grew its holdings in TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the period. Geode Capital Management LLC raised its position in TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in TE Connectivity by 26.0% in 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 in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

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.