TE Connectivity Ltd. (NYSE:TEL) Given Average Rating of “Hold” by Brokerages

Shares of TE Connectivity Ltd. (NYSE:TEL) have received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $159.55.

TEL has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Bank of America reduced their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday. Truist Financial boosted 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. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th.

Institutional Trading of TE Connectivity

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in shares of TE Connectivity by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after acquiring 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 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after acquiring an additional 52,824 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after acquiring an additional 135,548 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity in the second quarter worth approximately $15,847,000. Finally, Headlands Technologies LLC boosted its holdings in shares of TE Connectivity by 2,037.3% during the first quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock worth $525,000 after purchasing an additional 3,443 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.8 %

TEL stock opened at $150.02 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a 52 week low of $122.30 and a 52 week high of $159.98. The stock has a market capitalization of $45.59 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.00 and a beta of 1.33. The firm has a 50-day simple moving average of $147.94 and a 200-day simple moving average of $148.45.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. Equities analysts forecast that TE Connectivity will post 8.16 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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.