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

Equities researchers at StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Thursday. The brokerage set a “buy” rating on the electronics maker’s stock.

A number of other analysts have also recently commented on the stock. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Truist Financial increased their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Up 1.8 %

NYSE:TEL opened at $150.02 on Thursday. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.00 and a beta of 1.33. TE Connectivity has a 1-year low of $122.30 and a 1-year high of $159.98. The business’s 50-day moving average price is $147.94 and its two-hundred day moving average price is $148.45. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. On average, equities analysts expect that TE Connectivity will post 8.16 earnings per share for the current year.

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

Institutional Trading of TE Connectivity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of TE Connectivity by 25.3% during the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after purchasing an additional 58,219 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in TE Connectivity by 17.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock valued at $52,456,000 after acquiring an additional 52,824 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of TE Connectivity by 72.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after acquiring an additional 135,548 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth about $15,847,000. Finally, Headlands Technologies LLC raised its holdings in shares of TE Connectivity by 2,037.3% in the 1st quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock valued at $525,000 after purchasing an additional 3,443 shares during the period. 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.