Hsbc Global Res downgraded shares of TE Connectivity (NYSE:TEL - Free Report) from a hold rating to a moderate sell rating in a research report report published on Thursday, Zacks.com reports.
Several other analysts have also commented on TEL. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Thursday. They set a "buy" rating for the company. Truist Financial raised their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Vertical Research began coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 target price on the stock. Wells Fargo & Company decreased their price target on 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, Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $159.55.
Read Our Latest Stock Report on TEL
TE Connectivity Stock Performance
Shares of TEL traded up $2.60 during trading hours on Thursday, reaching $150.02. 1,510,973 shares of the company's stock traded hands, compared to its average volume of 1,847,795. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.95 and a beta of 1.33. The business's fifty day simple moving average is $148.00 and its two-hundred day simple moving average is $148.39. TE Connectivity has a twelve month low of $122.30 and a twelve month high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 0.99.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts' consensus estimates of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.78 earnings per share. Analysts predict that TE Connectivity will post 8.15 earnings per share for the current year.
TE Connectivity declared 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Institutional Trading of TE Connectivity
Several large investors have recently made changes to their positions in TEL. Norden Group LLC acquired a new position in TE Connectivity in the 1st quarter valued at $575,000. Mission Wealth Management LP bought a new position in shares of TE Connectivity in the first quarter worth about $307,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TE Connectivity by 10.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,535 shares of the electronics maker's stock worth $8,878,000 after purchasing an additional 6,084 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in TE Connectivity by 13.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 121,567 shares of the electronics maker's stock valued at $17,656,000 after purchasing an additional 14,784 shares during the period. Finally, Goelzer Investment Management Inc. grew its holdings in TE Connectivity by 0.5% in the 1st quarter. Goelzer Investment Management Inc. now owns 62,900 shares of the electronics maker's stock valued at $9,136,000 after buying an additional 323 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
About TE Connectivity
(
Get Free Report)
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.
See Also
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
