TE Connectivity (NYSE:TEL) had its price target lifted by stock analysts at Wells Fargo & Co from $112.00 to $120.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the electronics maker’s stock. Wells Fargo & Co’s price target suggests a potential upside of 17.20% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price objective on shares of TE Connectivity in a research note on Wednesday. Citigroup upped their price objective on shares of TE Connectivity from $106.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley upped their price objective on shares of TE Connectivity from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Finally, Robert W. Baird started coverage on shares of TE Connectivity in a research note on Friday, November 3rd. They issued an “outperform” rating and a $105.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $151.00.
TE Connectivity (TEL) opened at $102.39 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. TE Connectivity has a 12 month low of $71.93 and a 12 month high of $108.23. The company has a market cap of $35,980.00, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08.
TE Connectivity announced that its board has approved a share buyback plan on Friday, December 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
In other TE Connectivity news, insider Thomas J. Lynch sold 130,617 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Ott sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,390 shares of the company’s stock, valued at $3,006,534.20. The disclosure for this sale can be found here. Insiders have sold a total of 705,373 shares of company stock valued at $65,870,755 over the last quarter. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TEL. Janus Henderson Group PLC raised its holdings in TE Connectivity by 17.7% in the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after purchasing an additional 1,239,920 shares in the last quarter. Boston Partners raised its holdings in TE Connectivity by 8.1% in the 3rd quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after purchasing an additional 934,796 shares in the last quarter. Koch Industries Inc. bought a new position in TE Connectivity in the 2nd quarter worth $523,000. Asset Management One Co. Ltd. raised its holdings in TE Connectivity by 1,777.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 545,390 shares of the electronics maker’s stock worth $45,300,000 after purchasing an additional 516,337 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in TE Connectivity by 56.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,181,469 shares of the electronics maker’s stock worth $98,132,000 after purchasing an additional 424,335 shares in the last quarter. Institutional investors and hedge funds own 90.08% of the company’s stock.
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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.
