TE Connectivity (NYSE:TEL) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL - Free Report) in a report released on Sunday morning. The firm issued a buy rating on the electronics maker's stock.

TEL has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, September 20th. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Finally, Bank of America dropped their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of "Hold" and an average target price of $159.55.

TE Connectivity Price Performance

TEL traded up $2.38 during midday trading on Friday, hitting $152.26. The company had a trading volume of 1,715,477 shares, compared to its average volume of 1,533,659. TE Connectivity has a twelve month low of $128.52 and a twelve month high of $159.98. The firm's 50-day simple moving average is $148.96 and its 200-day simple moving average is $149.56. The company has a market capitalization of $45.55 billion, a PE ratio of 14.83, a P/E/G ratio of 2.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

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

TE Connectivity announced that its board has authorized a share 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 purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock worth $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the second quarter valued at about $30,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% in the 3rd 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 last quarter. Bank & Trust Co purchased a new position in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, 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 worth $39,000 after purchasing an additional 245 shares in the last quarter. 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.