TE Connectivity (NYSE:TEL) Upgraded at StockNews.com

StockNews.com upgraded shares of TE Connectivity (NYSE:TEL) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Several other brokerages have also commented on TEL. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Bank of America dropped their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Trading Up 0.0 %

Shares of TEL stock opened at $152.44 on Wednesday. The business’s fifty day moving average price is $149.72 and its 200 day moving average price is $149.78. The firm has a market capitalization of $45.60 billion, a PE ratio of 14.84, a P/E/G ratio of 2.06 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity has a 1-year low of $128.52 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates 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 company posted $1.78 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts forecast that TE Connectivity will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TE Connectivity

Hedge funds have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. raised its position 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 worth $34,000 after buying an additional 150 shares during the period. Wolff Wiese Magana LLC lifted its stake in shares of TE Connectivity by 2,450.0% in the 3rd 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 in the last quarter. Family Firm Inc. acquired a new position in shares of TE Connectivity in the 2nd quarter valued at about $43,000. Isthmus Partners LLC purchased a new stake in shares of TE Connectivity during the 2nd quarter worth about $45,000. Finally, MCF Advisors LLC raised its holdings in TE Connectivity by 2,745.5% in the second quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock valued at $47,000 after buying an additional 302 shares during the period. Institutional investors and hedge funds 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.