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

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report sent to investors on Sunday. The firm issued a buy rating on the electronics maker’s stock.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Bank of America lowered their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Trading Up 0.8 %

Shares of TEL opened at $151.13 on Friday. The stock’s 50-day moving average price is $149.24 and its 200 day moving average price is $149.68. 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 12-month low of $128.52 and a 12-month high of $159.98. The firm has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.72, a P/E/G 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, research analysts predict that TE Connectivity will post 8.14 earnings per share for the current year.

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

Institutional Investors Weigh In On TE Connectivity

Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in shares of TE Connectivity by 26.2% during 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 in the last quarter. Franklin Resources Inc. raised its position in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares in the last quarter. Point72 Asset Management L.P. boosted its position in TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of TE Connectivity by 43.0% in the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after buying an additional 347,315 shares during the period. 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.