TE Connectivity (TEL) Given New $105.00 Price Target at Stifel Nicolaus
TE Connectivity (NYSE:TEL) had its target price boosted by equities research analysts at Stifel Nicolaus from $98.00 to $105.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the electronics maker’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 9.94% from the company’s current price.
A number of other research firms have also recently issued reports on TEL. Morgan Stanley lifted their price target on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday. Cross Research raised TE Connectivity from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Cowen reaffirmed an “outperform” rating and issued a $110.00 price target (up from $95.00) on shares of TE Connectivity in a report on Thursday, December 7th. Wells Fargo & Company initiated coverage on TE Connectivity in a report on Friday, November 10th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Robert W. Baird initiated coverage on TE Connectivity in a report on Friday, November 3rd. They issued an “outperform” rating and a $105.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. TE Connectivity has an average rating of “Buy” and a consensus target price of $151.93.
Shares of TE Connectivity (NYSE TEL) traded up $0.24 during midday trading on Thursday, hitting $95.51. The company’s stock had a trading volume of 1,396,892 shares, compared to its average volume of 1,446,727. The company has a market capitalization of $33,632.34, a PE ratio of 19.80, a PEG ratio of 1.66 and a beta of 1.08. TE Connectivity has a 12 month low of $66.20 and a 12 month high of $96.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. equities analysts forecast that TE Connectivity will post 5.27 EPS for the current year.
TE Connectivity declared that its board has initiated a stock buyback program on Friday, December 8th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, SVP Robert J. Ott sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $95.78, for a total transaction of $1,915,600.00. Following the sale, the senior vice president now owns 31,390 shares in the company, valued at approximately $3,006,534.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Eric Resch sold 48,950 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $93.75, for a total value of $4,589,062.50. Following the sale, the senior vice president now owns 78,129 shares in the company, valued at approximately $7,324,593.75. The disclosure for this sale can be found here. Insiders have sold a total of 759,805 shares of company stock valued at $69,542,539 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of TEL. Global X Management Co. LLC grew its holdings in TE Connectivity by 25.6% in the 2nd quarter. Global X Management Co. LLC now owns 4,204 shares of the electronics maker’s stock valued at $331,000 after buying an additional 858 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of TE Connectivity by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,113,847 shares of the electronics maker’s stock worth $87,638,000 after purchasing an additional 59,171 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of TE Connectivity by 12.2% during the 2nd quarter. First Trust Advisors LP now owns 265,372 shares of the electronics maker’s stock worth $20,879,000 after purchasing an additional 28,867 shares in the last quarter. LMR Partners LLP grew its holdings in shares of TE Connectivity by 152.0% during the 2nd quarter. LMR Partners LLP now owns 9,201 shares of the electronics maker’s stock worth $724,000 after purchasing an additional 5,550 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of TE Connectivity by 14.4% during the 2nd quarter. SG Americas Securities LLC now owns 64,694 shares of the electronics maker’s stock worth $5,090,000 after purchasing an additional 8,124 shares in the last quarter. 90.22% of the stock is currently owned by institutional investors and hedge funds.
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TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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