TE Connectivity Ltd (TEL) Receives $159.31 Average Target Price from Analysts
TE Connectivity Ltd (NYSE:TEL) has been given an average rating of “Buy” by the sixteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $159.31.
Several research firms have weighed in on TEL. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Monday. ValuEngine raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus boosted their price target on TE Connectivity from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Morgan Stanley boosted their price target on TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Finally, Cross Research raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th.
TE Connectivity (TEL) traded down $0.60 during trading hours on Monday, hitting $99.97. The company’s stock had a trading volume of 2,215,728 shares, compared to its average volume of 1,783,902. The firm has a market cap of $35,202.40, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. TE Connectivity has a 52-week low of $69.30 and a 52-week high of $101.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07.
TE Connectivity declared that its Board of Directors has approved a stock buyback program on Friday, December 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other news, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mario Calastri sold 8,539 shares of TE Connectivity stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $93.27, for a total value of $796,432.53. 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 corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of TE Connectivity by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after acquiring an additional 521,884 shares during the period. Russell Investments Group Ltd. boosted its stake in TE Connectivity by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 227,441 shares of the electronics maker’s stock valued at $18,890,000 after purchasing an additional 22,345 shares during the period. U S Global Investors Inc. boosted its stake in TE Connectivity by 21.1% in the 2nd quarter. U S Global Investors Inc. now owns 6,540 shares of the electronics maker’s stock valued at $515,000 after purchasing an additional 1,140 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in TE Connectivity by 55.2% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 315,263 shares of the electronics maker’s stock valued at $26,131,000 after purchasing an additional 112,161 shares during the period. Finally, Hartford Investment Management Co. bought a new stake in TE Connectivity in the 3rd quarter valued at $6,443,000. Institutional investors own 90.16% 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.
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