TE Connectivity (NYSE:TEL) Raised to “Strong-Buy” at StockNews.com

TE Connectivity (NYSE:TEL) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

A number of other analysts have also recently commented on TEL. Citigroup upped their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price 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. Finally, Truist Financial dropped their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $155.65 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $147.11 and its 200-day moving average price is $148.32. TE Connectivity has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a market cap of $46.44 billion, a PE ratio of 24.86, a PEG ratio of 2.09 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share. As a group, analysts anticipate that TE Connectivity will post 8.05 EPS for the current year.

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

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. grew its position in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at about $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth about $44,000. Finally, Hilltop National Bank purchased a new stake in shares of TE Connectivity in the fourth quarter worth about $55,000. Institutional investors own 91.43% of the company’s stock.

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.