TE Connectivity (NYSE:TEL) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a research report sent to investors on Sunday morning. The brokerage issued a buy rating on the electronics maker’s stock.

TEL has been the topic of several other research reports. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Bank of America dropped their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Trading Down 1.9 %

TEL opened at $149.84 on Friday. The stock has a market cap of $44.83 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 2.07 and a beta of 1.33. The stock’s 50 day moving average price is $149.14 and its 200-day moving average price is $149.67. TE Connectivity has a one year low of $128.52 and a one year high of $159.98. 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) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, equities analysts forecast that TE Connectivity will post 8.14 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a share buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of TE Connectivity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in TE Connectivity during the 2nd quarter worth about $15,847,000. Venturi Wealth Management LLC lifted its position in TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,169 shares during the period. Marshall Financial Group LLC acquired a new stake in TE Connectivity during the 2nd quarter worth about $995,000. Oppenheimer Asset Management Inc. lifted its position in TE Connectivity by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after acquiring an additional 12,140 shares during the period. Finally, Waverton Investment Management Ltd lifted its holdings in shares of TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after buying an additional 106,688 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.