TE Connectivity (NYSE:TEL) Stock Rating Upgraded by StockNews.com

TE Connectivity (NYSE:TEL) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

A number of other equities research analysts also recently issued reports on the company. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Down 0.5 %

Shares of NYSE:TEL opened at $152.43 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a market cap of $45.60 billion, a P/E ratio of 14.84, a PEG ratio of 2.06 and a beta of 1.32. The stock’s fifty day moving average price is $149.72 and its 200-day moving average price is $149.78.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that TE Connectivity will post 8.14 earnings per share for the current year.

TE Connectivity declared that its board has authorized a stock buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. State Street Corp increased its holdings in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. increased its stake in TE Connectivity by 26.2% in the 2nd 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. Geode Capital Management LLC raised its holdings in shares of TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew 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. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

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.