TE Connectivity (NYSE:TEL) had its price target upped by equities researchers at Citigroup from $106.00 to $119.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the electronics maker’s stock. Citigroup’s target price indicates a potential upside of 16.22% from the company’s current price.
Several other analysts also recently commented on TEL. Stifel Nicolaus reissued a “buy” rating and set a $87.00 price objective on shares of TE Connectivity in a research report on Tuesday, October 17th. Zacks Investment Research downgraded shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Royal Bank of Canada reissued a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. SunTrust Banks increased their price objective on shares of TE Connectivity to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price objective on shares of TE Connectivity from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. TE Connectivity currently has an average rating of “Buy” and a consensus price target of $151.00.
Shares of TE Connectivity (TEL) opened at $102.39 on Thursday. TE Connectivity has a 1 year low of $71.93 and a 1 year high of $108.23. The company has a market cap of $35,980.00, a PE ratio of 29.76, a P/E/G ratio of 1.75 and a beta of 1.08. 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 announced that its Board of Directors has initiated a share repurchase plan on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, SVP Eric Resch sold 48,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $93.75, for a total value of $4,589,062.50. Following the transaction, the senior vice president now owns 78,129 shares of the company’s stock, valued at $7,324,593.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas J. Lynch sold 130,617 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the completion of the transaction, the insider now directly owns 429,500 shares in the company, valued at approximately $39,209,055. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 705,373 shares of company stock worth $65,870,755. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TEL. Schroder Investment Management Group purchased a new position in shares of TE Connectivity in the second quarter worth approximately $206,000. AXA boosted its holdings in shares of TE Connectivity by 21.8% in the second quarter. AXA now owns 4,132 shares of the electronics maker’s stock worth $325,000 after buying an additional 740 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of TE Connectivity by 2.3% in the second quarter. Thrivent Financial For Lutherans now owns 13,520 shares of the electronics maker’s stock worth $1,064,000 after buying an additional 310 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of TE Connectivity in the second quarter worth approximately $968,000. Finally, Advisor Group Inc. boosted its holdings in shares of TE Connectivity by 61.8% in the second quarter. Advisor Group Inc. now owns 16,717 shares of the electronics maker’s stock worth $1,315,000 after buying an additional 6,386 shares during the last quarter. 90.08% of the stock is currently owned by institutional investors.
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About TE Connectivity
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.
