TE Connectivity (NYSE:TEL) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a report released on Thursday morning. The firm issued a buy rating on the electronics maker’s stock.

TEL has been the subject of several other research reports. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Truist Financial upped their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $150.02 on Thursday. TE Connectivity has a 12 month low of $122.30 and a 12 month high of $159.98. The firm has a market capitalization of $45.59 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 0.99. The company’s fifty day moving average price is $147.94 and its 200 day moving average price is $148.49.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. The business 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 business’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 earnings per share. As a group, sell-side analysts predict that TE Connectivity will post 8.16 earnings per share for the current fiscal year.

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

Institutional Trading of TE Connectivity

Several large investors have recently bought and sold shares of TEL. Price T Rowe Associates Inc. MD boosted its position in shares of TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. raised its position in TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after purchasing an additional 223,842 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of TE Connectivity by 9.3% in the first quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock valued at $406,459,000 after purchasing an additional 238,370 shares during the last quarter. Finally, First Pacific Advisors LP increased its stake in shares of TE Connectivity by 0.4% during the 1st quarter. First Pacific Advisors LP now owns 2,776,505 shares of the electronics maker’s stock worth $403,260,000 after purchasing an additional 10,167 shares in the last quarter. 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.