HSBC upgraded shares of TE Connectivity (NYSE:TEL – Free Report) from a reduce rating to a hold rating in a research report report published on Thursday, Marketbeat Ratings reports. The firm currently has $166.00 target price on the electronics maker’s stock.
Other research analysts also recently issued reports about the company. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.
Get Our Latest Analysis on TEL
TE Connectivity Stock Performance
TE Connectivity (NYSE:TEL – Get Free Report) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that TE Connectivity will post 8.1 EPS for the current fiscal year.
TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Hedge Funds Weigh In On TE Connectivity
A number of large investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. boosted its position in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the period. Wolff Wiese Magana LLC increased its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the period. Hilltop National Bank bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $55,000. Finally, Webster Bank N. A. bought a new position in TE Connectivity in the fourth quarter worth approximately $61,000. Hedge funds and other 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.
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