TE Connectivity (NYSE:TEL) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a report issued on Friday. The firm set a “buy” rating on the electronics maker’s stock.

Other equities analysts have also issued reports about the stock. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company cut their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

TEL stock opened at $155.20 on Friday. The firm has a 50 day moving average price of $147.90 and a 200-day moving average price of $148.71. TE Connectivity has a 52-week low of $123.79 and a 52-week high of $159.98. The firm has a market capitalization of $47.17 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

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

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

Institutional Investors Weigh In On TE Connectivity

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in shares of TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after acquiring an additional 58,219 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after buying an additional 52,824 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of TE Connectivity by 72.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after buying an additional 135,548 shares during the period. Manning & Napier Advisors LLC acquired a new position in TE Connectivity during the second quarter valued at $15,847,000. Finally, Headlands Technologies LLC lifted its position in TE Connectivity by 2,037.3% during the first quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock valued at $525,000 after purchasing an additional 3,443 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.