TE Connectivity (NYSE:TEL) Now Covered by Analysts at StockNews.com

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

A number of other equities analysts also recently commented on the stock. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Vertical Research initiated coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company cut their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Trading Down 0.1 %

TEL traded down $0.14 on Friday, reaching $155.06. 1,144,360 shares of the company traded hands, compared to its average volume of 1,838,622. The firm has a fifty day simple moving average of $148.01 and a two-hundred day simple moving average of $148.83. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a one year low of $123.79 and a one year high of $159.98. The company has a market cap of $47.13 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 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 firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts expect that TE Connectivity will post 8.13 earnings per share for the current year.

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

Institutional Investors Weigh In On TE Connectivity

Several hedge funds have recently modified their holdings of TEL. Versant Capital Management Inc raised its stake in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of TE Connectivity during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. boosted its position 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 buying an additional 150 shares during the period. Bank & Trust Co acquired a new stake in shares of TE Connectivity in the second quarter valued at $35,000. Finally, Wolff Wiese Magana LLC increased its stake in 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 purchasing an additional 245 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.