StockNews.com upgraded shares of TE Connectivity (NYSE:TEL - Free Report) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.
TEL has been the subject of a number of other research reports. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a research note on Monday. 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. Hsbc Global Res downgraded TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Finally, HSBC lowered shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $159.36.
Read Our Latest Stock Analysis on TEL
TE Connectivity Stock Performance
TEL stock traded down $3.17 on Wednesday, reaching $144.78. The company's stock had a trading volume of 2,528,067 shares, compared to its average volume of 1,798,763. The firm has a fifty day moving average of $150.20 and a two-hundred day moving average of $149.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company has a market capitalization of $43.31 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. TE Connectivity has a 52 week low of $128.52 and a 52 week high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business's revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. As a group, analysts predict that TE Connectivity will post 8.14 EPS for the current fiscal year.
TE Connectivity announced that its board has initiated a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On TE Connectivity
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEL. 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 acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC grew its position in 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 during the period. Family Firm Inc. bought a new stake in shares of TE Connectivity during the second quarter worth about $43,000. Isthmus Partners LLC bought a new position in shares of TE Connectivity in the second quarter valued at approximately $45,000. Finally, MCF Advisors LLC boosted its holdings in TE Connectivity by 2,745.5% during the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker's stock worth $47,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
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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