TE Connectivity (NYSE:TEL) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report sent to investors on Saturday morning. The brokerage issued a buy rating on the electronics maker’s stock.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Truist Financial raised their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One research 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, the company has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Up 0.0 %

Shares of NYSE:TEL opened at $148.36 on Friday. The firm has a fifty day moving average of $148.57 and a two-hundred day moving average of $149.42. The firm has a market capitalization of $44.38 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. TE Connectivity has a 12-month low of $128.52 and a 12-month high of $159.98. 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 (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. On average, equities analysts expect that TE Connectivity will post 8.13 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its position in shares of TE Connectivity by 3.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 31,715 shares of the electronics maker’s stock worth $4,606,000 after buying an additional 1,100 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in shares of TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after buying an additional 69 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of TE Connectivity by 72.8% during the 1st 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. Catalytic Wealth RIA LLC lifted its position in shares of TE Connectivity by 38.6% during the 1st quarter. Catalytic Wealth RIA LLC now owns 2,656 shares of the electronics maker’s stock worth $386,000 after buying an additional 740 shares during the period. Finally, Rockport Wealth LLC bought a new position in shares of TE Connectivity during the 1st quarter worth approximately $236,000. 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.