StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

Analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a note issued to investors on Saturday. The firm set a “buy” rating on the electronics maker’s stock.

A number of other equities analysts have also weighed in on TEL. Wells Fargo & Company lowered their price objective on shares of 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. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Stock Down 3.2 %

Shares of NYSE:TEL opened at $148.35 on Friday. TE Connectivity has a 1-year low of $128.52 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock has a market cap of $44.38 billion, a P/E ratio of 14.44, a P/E/G ratio of 2.02 and a beta of 1.33. The firm has a fifty day moving average price of $148.50 and a 200 day moving average price of $149.36.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. Sell-side analysts predict that TE Connectivity will post 8.13 EPS for the current year.

TE Connectivity announced that its board has approved a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding 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 generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in TEL. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after purchasing an additional 135,548 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in TE Connectivity during the second quarter worth $15,847,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of TE Connectivity by 5.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker’s stock worth $41,117,000 after acquiring an additional 15,052 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in shares of TE Connectivity in the second quarter valued at $995,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after acquiring an additional 6,169 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

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.