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 report report published on Sunday. The firm issued a buy rating on the electronics maker’s stock.

A number of other research analysts have also weighed in on TEL. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company cut their price objective 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. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

TE Connectivity stock opened at $152.26 on Friday. The stock’s fifty day moving average price is $148.96 and its two-hundred day moving average price is $149.60. TE Connectivity has a one year low of $128.52 and a one 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 firm has a market cap of $45.55 billion, a PE ratio of 14.83, a price-to-earnings-growth 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 earnings per share for the quarter, meeting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. As a group, research analysts expect that TE Connectivity will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a stock buyback plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. Geode Capital Management LLC increased its position in shares of TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after acquiring an additional 223,842 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.