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

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

Several other equities analysts have also recently weighed in on TEL. HSBC cut 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. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company reduced their price objective on 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 price objective 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. Finally, Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Up 0.8 %

Shares of TE Connectivity stock opened at $151.13 on Friday. 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 12-month low of $128.52 and a 12-month high of $159.98. The firm has a market capitalization of $45.21 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The stock’s fifty day moving average is $149.24 and its 200-day moving average is $149.68.

TE Connectivity (NYSE:TEL) last posted 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 for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 EPS. Equities analysts anticipate that TE Connectivity will post 8.14 earnings per share for the current year.

TE Connectivity declared that its board has approved a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in TE Connectivity in the 1st quarter valued at $72,000. Ascent Group LLC acquired a new position in shares of TE Connectivity during the 1st quarter worth about $1,312,000. Silvercrest Asset Management Group LLC boosted its stake in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after purchasing an additional 68 shares during the period. Industrial Alliance Investment Management Inc. grew its holdings in TE Connectivity by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,089 shares of the electronics maker’s stock valued at $303,000 after buying an additional 88 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in TE Connectivity by 18.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,665 shares of the electronics maker’s stock worth $1,404,000 after buying an additional 1,481 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.