TE Connectivity (NYSE:TEL) Earns Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a research note issued to investors on Saturday. The firm set a “buy” rating on the electronics maker’s stock.

Several other equities research analysts also recently issued reports on the stock. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Vertical Research started coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company dropped their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Finally, HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Down 3.2 %

Shares of NYSE:TEL opened at $148.35 on Friday. TE Connectivity has a 52-week low of $128.52 and a 52-week high of $159.98. The company has a market capitalization of $44.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The company has a 50-day simple moving average of $148.40 and a 200 day simple moving average of $149.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion during 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%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. Sell-side analysts forecast that TE Connectivity will post 8.13 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEL. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity during the second quarter worth $30,000. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co bought a new stake in shares of TE Connectivity during the second quarter worth $35,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of 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 buying an additional 245 shares during the last quarter. 91.43% of the stock is owned by 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.