Truist Financial Lowers TE Connectivity (NYSE:TEL) Price Target to $163.00

TE Connectivity (NYSE:TEL) had its target price cut by stock analysts at Truist Financial from $165.00 to $163.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the electronics maker’s stock. Truist Financial’s price objective would suggest a potential upside of 4.82% from the company’s current price.

TEL has been the topic of a number of other research reports. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Seven 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

TE Connectivity Trading Up 0.3 %

Shares of NYSE:TEL traded up $0.42 during midday trading on Thursday, hitting $155.51. The company had a trading volume of 419,144 shares, compared to its average volume of 1,768,928. The firm has a fifty day simple moving average of $147.43 and a 200 day simple moving average of $148.80. The stock has a market cap of $46.41 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 2.02 and a beta of 1.32. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same period in the prior year, the business posted $1.84 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. On average, analysts predict that TE Connectivity will post 8.1 EPS for the current year.

TE Connectivity declared that its board has approved a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TE Connectivity

Several large investors have recently modified their holdings of TEL. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the 4th quarter valued at about $26,000. Armstrong Advisory Group Inc. increased its stake in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC lifted its holdings in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the last quarter. Hilltop National Bank bought a new stake in TE Connectivity in the 4th quarter valued at $55,000. Finally, Webster Bank N. A. acquired a new position in TE Connectivity in the 4th quarter valued at $61,000. 91.43% of the stock is owned by institutional investors.

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.