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

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

Several other brokerages have also recently issued reports on TEL. Wells Fargo & Company dropped their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. One 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 stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $152.26 on Friday. TE Connectivity has a 1-year low of $128.52 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The business has a fifty day moving average price of $148.96 and a 200-day moving average price of $149.60. The company has a market capitalization of $45.55 billion, a PE ratio of 14.83, a PEG ratio of 2.07 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the company earned $1.78 EPS. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity will post 8.14 EPS for the current fiscal year.

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

Institutional Trading of TE Connectivity

A number of large investors have recently added to or reduced their stakes in the company. Simplicity Wealth LLC increased its stake in TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after acquiring an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after purchasing an additional 68 shares during the last quarter. Optas LLC increased its position in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares during the last quarter. Gradient Investments LLC increased its position in shares of TE Connectivity by 2.2% during the 2nd quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after purchasing an additional 76 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of TE Connectivity by 3.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock valued at $346,000 after purchasing an additional 76 shares during the last quarter. 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.