TE Connectivity (NYSE:TEL) Stock Rating Upgraded by StockNews.com

TE Connectivity (NYSE:TEL) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

A number of other equities analysts also recently weighed in on the stock. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target 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 research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group cut their price objective on 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 decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $159.36.

TE Connectivity Trading Down 0.6 %

Shares of TE Connectivity stock opened at $143.89 on Wednesday. The firm has a market cap of $43.05 billion, a PE ratio of 14.01, a P/E/G ratio of 2.04 and a beta of 1.32. 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 fifty-two week low of $128.52 and a fifty-two week high of $159.98. The business’s fifty day moving average is $150.15 and its two-hundred day moving average is $149.70.

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. Analysts anticipate that TE Connectivity will post 8.14 earnings per share for the current year.

TE Connectivity declared that its board has authorized a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of TE Connectivity

Several large investors have recently bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC lifted its holdings in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Family Firm Inc. purchased a new position in TE Connectivity in the 2nd quarter valued at about $43,000. Isthmus Partners LLC acquired a new stake in shares of TE Connectivity during the second quarter valued at about $45,000. Finally, MCF Advisors LLC increased its position in shares of TE Connectivity by 2,745.5% during the second quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 302 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.