StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL - Free Report) in a research report report published on Saturday. The brokerage issued a buy rating on the electronics maker's stock.
A number of other analysts have also recently commented on the company. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. The Goldman Sachs Group cut 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 note on Tuesday, October 1st. Finally, Vertical Research began coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $159.55.
Check Out Our Latest Report on TEL
TE Connectivity Stock Down 3.2 %
Shares of TEL stock traded down $4.90 during trading hours on Friday, reaching $148.35. 1,722,590 shares of the company's stock were exchanged, compared to its average volume of 1,829,200. TE Connectivity has a 1 year low of $128.52 and a 1 year 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. The stock has a market cap of $44.38 billion, a PE ratio of 14.44, a PEG ratio of 2.10 and a beta of 1.33. The stock's fifty day moving average price is $148.50 and its two-hundred day moving average price is $149.24.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. Research analysts predict that TE Connectivity will post 8.13 EPS for the current year.
TE Connectivity declared that its Board of Directors has initiated a share repurchase 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings 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 buying an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity during the second quarter worth approximately $30,000. Armstrong Advisory Group Inc. raised its stake in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Bank & Trust Co purchased a new position in TE Connectivity in the 2nd quarter valued at $35,000. Finally, Wolff Wiese Magana LLC boosted its stake 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. Hedge funds and other institutional investors own 91.43% of the company's stock.
About TE Connectivity
(
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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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