Equities research analysts at StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL - Get Free Report) in a research report issued to clients and investors on Friday. The firm set a "buy" rating on the electronics maker's stock.
A number of other research firms have also recently commented on TEL. Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, September 20th. Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 price objective 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. Bank of America lowered their price target on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Finally, Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $159.55.
Check Out Our Latest Stock Report on TE Connectivity
TE Connectivity Stock Down 0.1 %
Shares of NYSE:TEL traded down $0.12 during mid-day trading on Friday, hitting $155.08. 1,144,357 shares of the company traded hands, compared to its average volume of 1,838,622. The stock has a market cap of $47.13 billion, a P/E ratio of 15.10, a P/E/G ratio of 2.10 and a beta of 1.33. The stock has a 50-day moving average price of $148.01 and a two-hundred day moving average price of $148.83. TE Connectivity has a 12-month low of $123.79 and a 12-month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business's revenue was up .8% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity will post 8.13 earnings per share for the current year.
TE Connectivity declared that its board has initiated a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.
Institutional Trading of TE Connectivity
Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its stake in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock worth $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity in the second quarter worth about $30,000. Armstrong Advisory Group Inc. lifted its stake in shares of TE Connectivity by 208.3% in 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 in the last quarter. Bank & Trust Co purchased a new stake in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC increased its position 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 valued at $39,000 after acquiring an additional 245 shares in the last quarter. 91.43% of the stock is owned by institutional investors.
TE Connectivity Company Profile
(
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.
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