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

Equities researchers at StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a note issued to investors on Sunday. The brokerage set a “buy” rating on the electronics maker’s stock.

A number of other research analysts also recently commented on TEL. 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 research note on Thursday, October 31st. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Bank of America reduced their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. 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 report on Friday, September 20th. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Performance

NYSE:TEL opened at $152.26 on Friday. The firm has a 50-day moving average of $148.96 and a two-hundred day moving average of $149.56. 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 stock has a market cap of $45.55 billion, a P/E ratio of 14.83, a PEG ratio of 2.04 and a beta of 1.33. TE Connectivity has a 1-year low of $128.52 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm earned $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that TE Connectivity will post 8.14 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On TE Connectivity

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