Wells Fargo & Company Issues Pessimistic Forecast for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL) had its price target decreased by stock analysts at Wells Fargo & Company from $153.00 to $151.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 2.06% from the stock’s previous close.

Several other equities research analysts have also issued reports on TEL. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.36.

TE Connectivity Trading Down 1.3 %

NYSE TEL opened at $147.95 on Monday. TE Connectivity has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company has a market capitalization of $44.26 billion, a PE ratio of 14.41, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a fifty day moving average of $150.25 and a 200 day moving average of $149.77.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts forecast that TE Connectivity will post 8.14 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after buying an additional 1,304,199 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after acquiring an additional 712,228 shares during the period. EdgePoint Investment Group Inc. lifted its holdings in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares during the period. Finally, Bank of Montreal Can increased its holdings in TE Connectivity by 43.0% in the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

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.