TE Connectivity (NYSE:TEL) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research note published on Saturday morning. The firm issued a buy rating on the electronics maker’s stock.

TEL has been the topic of several other research reports. Wells Fargo & Company cut their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Performance

Shares of TEL stock opened at $146.95 on Friday. The firm has a market capitalization of $43.96 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. The company has a 50 day moving average price of $148.63 and a 200 day moving average price of $149.45. TE Connectivity has a one year low of $128.52 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the company posted $1.78 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity will post 8.13 EPS for the current year.

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

TE Connectivity Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be given a $0.65 dividend. This represents a dividend yield of 1.75%. The ex-dividend date is Friday, November 22nd. TE Connectivity’s payout ratio is currently 25.32%.

Institutional Trading of TE Connectivity

A number of institutional investors and hedge funds have recently modified their holdings of TEL. Versant Capital Management Inc boosted its position in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the second quarter valued at $30,000. Armstrong Advisory Group Inc. grew its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of TE Connectivity in the 2nd quarter worth about $35,000. Finally, Wolff Wiese Magana LLC lifted its position in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 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.