StockNews.com Begins Coverage on TE Connectivity (NYSE:TEL)

Equities researchers at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Saturday. The firm set a “buy” rating on the electronics maker’s stock.

Several other brokerages have also commented on TEL. Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company lowered their price target on 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. Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. One equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

TEL stock opened at $148.35 on Friday. The stock has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. 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 52-week low of $128.52 and a 52-week high of $159.98. The stock’s fifty day simple moving average is $148.50 and its 200-day simple moving average is $149.36.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the company earned $1.78 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that TE Connectivity will post 8.13 EPS for the current year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity during the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. increased its holdings in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Bank & Trust Co acquired a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC boosted its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

About TE Connectivity

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.