TE Connectivity (NYSE:TEL) Upgraded at StockNews.com

StockNews.com upgraded shares of TE Connectivity (NYSE:TEL) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citigroup upped their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Stock Down 0.8 %

Shares of NYSE:TEL opened at $154.55 on Wednesday. The company has a 50-day moving average price of $147.20 and a 200 day moving average price of $148.40. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a market cap of $46.11 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts predict that TE Connectivity will post 8.05 earnings per share for the current year.

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

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

A number of hedge funds have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the 4th quarter worth $26,000. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity in the fourth quarter worth about $43,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at about $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $55,000. Hedge funds and other 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.