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

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

Several other research firms have also issued reports on TEL. Wells Fargo & Company cut 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. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. 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 cut their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Down 1.9 %

TE Connectivity stock opened at $149.84 on Friday. The firm has a market cap of $44.83 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.07 and a beta of 1.33. The stock has a fifty day simple moving average of $149.14 and a two-hundred day simple moving average of $149.67. TE Connectivity has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. TE Connectivity’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that TE Connectivity will post 8.14 EPS for the current fiscal year.

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

Institutional Investors Weigh In On TE Connectivity

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC purchased a new stake in TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. raised its position in 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 purchasing an additional 150 shares during the period. Bank & Trust Co purchased a new stake in TE Connectivity during the second quarter valued at approximately $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 valued at $39,000 after purchasing an additional 245 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

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.