StockNews.com Begins Coverage on TE Connectivity (NYSE:TEL)

Investment analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a report released on Sunday. The brokerage set a “buy” rating on the electronics maker’s stock.

Several other research analysts have also issued reports on the stock. 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 cut their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group decreased 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $152.67 on Friday. The firm has a market capitalization of $45.67 billion, a PE ratio of 14.87, a P/E/G ratio of 2.07 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $149.10 and a two-hundred day moving average price of $149.64. TE Connectivity has a twelve month low of $128.52 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. Equities analysts forecast that TE Connectivity will post 8.14 EPS for the current year.

TE Connectivity announced that its board has authorized a share repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC grew its stake in shares of TE Connectivity by 24.5% in the third quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker’s stock worth $3,341,000 after acquiring an additional 4,359 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in TE Connectivity by 286.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker’s stock worth $2,534,000 after purchasing an additional 12,444 shares during the last quarter. Sanctuary Advisors LLC grew its position in TE Connectivity by 124.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 65,749 shares of the electronics maker’s stock worth $10,011,000 after purchasing an additional 36,423 shares during the period. Anchor Investment Management LLC raised its stake in TE Connectivity by 14.8% during the 3rd quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock valued at $762,000 after buying an additional 652 shares during the last quarter. Finally, TCW Group Inc. bought a new position in shares of TE Connectivity during the 3rd quarter valued at $4,443,000. Hedge funds and other 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.