StockNews.com upgraded shares of TE Connectivity (NYSE:TEL - Free Report) from a buy rating to a strong-buy rating in a research report released on Wednesday.
Several other equities research analysts have also weighed in on the stock. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Citigroup increased their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.
Get Our Latest Stock Analysis on TE Connectivity
TE Connectivity Trading Down 0.4 %
TEL traded down $0.58 during mid-day trading on Wednesday, hitting $154.55. The stock had a trading volume of 1,577,344 shares, compared to its average volume of 1,636,413. The stock's fifty day simple moving average is $147.11 and its 200-day simple moving average is $148.32. 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 firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity has a 1-year low of $137.61 and a 1-year high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business posted $1.84 earnings per share. As a group, research analysts forecast that TE Connectivity will post 8.05 EPS for the current fiscal year.
TE Connectivity declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Activity
In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 0.90% of the company's stock.
Institutional Trading of TE Connectivity
A number of hedge funds have recently modified their holdings of TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in shares of 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 buying an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $44,000. Finally, Hilltop National Bank acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $55,000. Institutional investors and hedge funds 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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