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

StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research note published on Friday morning. The brokerage issued a buy rating on the electronics maker’s stock.

A number of other research analysts also recently issued reports on the stock. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, HSBC downgraded 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Down 0.0 %

Shares of NYSE TEL opened at $155.03 on Friday. TE Connectivity has a 12-month low of $124.95 and a 12-month high of $159.98. The firm’s 50-day simple moving average is $148.01 and its 200 day simple moving average is $148.93. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a market cap of $47.12 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 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 business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. TE Connectivity’s revenue was up .8% compared to the same quarter last year. On average, research analysts expect that TE Connectivity will post 8.13 earnings per share for the current fiscal year.

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

Institutional Investors 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 raised its holdings in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. boosted its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co bought a new position in shares of TE Connectivity in the second quarter valued at $35,000. Finally, Wolff Wiese Magana LLC raised its position in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. 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.