TE Connectivity (NYSE:TEL) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research report released on Friday morning. The brokerage issued a buy rating on the electronics maker’s stock.

Other equities research analysts have also issued reports about the stock. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Finally, Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Down 0.1 %

NYSE:TEL traded down $0.14 during mid-day trading on Friday, hitting $155.06. The stock had a trading volume of 1,144,360 shares, compared to its average volume of 1,838,622. The company has a market capitalization of $47.13 billion, a PE ratio of 15.10, a PEG ratio of 2.10 and a beta of 1.33. The stock has a 50-day simple moving average of $148.01 and a two-hundred day simple moving average of $148.83. TE Connectivity has a twelve month low of $123.79 and a twelve month high of $159.98. 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 (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. On average, equities research analysts anticipate that TE Connectivity will post 8.13 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of TE Connectivity

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. King Luther Capital Management Corp increased its holdings in TE Connectivity by 2.1% in the third quarter. King Luther Capital Management Corp now owns 13,923 shares of the electronics maker’s stock valued at $2,102,000 after buying an additional 288 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TE Connectivity by 769.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,401 shares of the electronics maker’s stock worth $16,997,000 after acquiring an additional 99,466 shares during the period. Commerce Bank increased its stake in TE Connectivity by 0.4% in the 3rd quarter. Commerce Bank now owns 405,318 shares of the electronics maker’s stock valued at $61,199,000 after purchasing an additional 1,649 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in TE Connectivity by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 116,966 shares of the electronics maker’s stock worth $17,661,000 after purchasing an additional 889 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in TE Connectivity by 39.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,389 shares of the electronics maker’s stock worth $663,000 after purchasing an additional 1,233 shares in the last quarter. Institutional investors and hedge funds 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.