TE Connectivity (NYSE:TEL) Downgraded to Buy Rating by StockNews.com

TE Connectivity (NYSE:TEL - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

TEL has been the subject of several other research reports. Truist Financial reduced their target price on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Bank of America upped their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $167.00.

TE Connectivity Trading Down 0.2 %

TEL stock traded down $0.35 during mid-day trading on Tuesday, reaching $152.87. The company had a trading volume of 1,753,715 shares, compared to its average volume of 1,671,565. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market capitalization of $45.61 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. The firm has a 50 day moving average of $146.79 and a 200 day moving average of $148.21. TE Connectivity has a 12 month low of $137.61 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. On average, equities analysts predict that TE Connectivity will post 7.95 earnings per share for the current fiscal year.

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

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the 4th quarter worth $26,000. SRS Capital Advisors Inc. grew its position in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Armstrong Advisory Group Inc. grew its position in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% during 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 during the last quarter. Finally, Fairway Wealth LLC purchased a new position in TE Connectivity during the 4th quarter worth $43,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

About TE Connectivity

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.