TE Connectivity (NYSE:TEL) Cut to “Buy” at StockNews.com

TE Connectivity (NYSE:TEL) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

TEL has been the topic of several other research reports. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Citigroup lifted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Down 0.6 %

NYSE TEL traded down $0.87 during trading hours on Tuesday, reaching $148.82. 980,034 shares of the company’s stock traded hands, compared to its average volume of 1,603,879. TE Connectivity has a 52-week low of $137.61 and a 52-week high of $159.98. The firm has a market cap of $44.40 billion, a PE ratio of 23.77, a PEG ratio of 2.01 and a beta of 1.32. The firm has a 50-day simple moving average of $146.96 and a 200 day simple moving average of $148.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. Sell-side analysts anticipate that TE Connectivity will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings in shares of TE Connectivity by 117.6% in the fourth 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 holdings in shares of TE Connectivity by 208.3% in the third 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 holdings in shares of TE Connectivity by 2,450.0% in the third 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 bought a new position in shares of TE Connectivity in the fourth quarter worth about $43,000. 91.43% of the stock is currently owned by 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.