TE Connectivity (NYSE:TEL) Cut to “Buy” at StockNews.com

TE Connectivity (NYSE:TEL) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently weighed in on TEL. Citigroup increased their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial dropped their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $167.00.

TE Connectivity Stock Down 0.6 %

Shares of NYSE TEL traded down $0.87 during mid-day trading on Tuesday, reaching $148.82. 980,034 shares of the company’s stock traded hands, compared to its average volume of 1,603,879. The stock has a market cap of $44.40 billion, a P/E ratio of 23.77, a PEG ratio of 2.01 and a beta of 1.32. The business has a 50-day simple moving average of $146.96 and a 200 day simple moving average of $148.26. TE Connectivity has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm posted $1.84 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect that TE Connectivity will post 7.95 EPS for the current fiscal year.

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

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. grew its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares during the last quarter. Armstrong Advisory Group Inc. grew its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in 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 acquiring an additional 245 shares during the last quarter. Finally, Fairway Wealth LLC bought a new stake in TE Connectivity in the 4th quarter worth $43,000. 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.