TE Connectivity (NYSE:TEL) Raised to “Strong-Buy” at StockNews.com

TE Connectivity (NYSE:TEL) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Several other research firms have also issued reports on TEL. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. 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. 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 report on Tuesday, October 1st. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $152.43 on Wednesday. The firm has a market capitalization of $45.60 billion, a PE ratio of 14.84, a P/E/G ratio of 2.06 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $149.72 and a two-hundred day moving average price of $149.78. TE Connectivity has a twelve month low of $128.52 and a twelve month high of $159.98.

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

TE Connectivity declared that its Board of Directors has approved a stock buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TEL. 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 valued at $34,000 after purchasing an additional 150 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares during the period. Family Firm Inc. bought a new position in shares of TE Connectivity in the 2nd quarter worth about $43,000. Isthmus Partners LLC purchased a new position in TE Connectivity during the 2nd quarter valued at about $45,000. Finally, MCF Advisors LLC boosted its stake in TE Connectivity by 2,745.5% during the second quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 302 shares in the last quarter. Hedge funds and other institutional investors 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.