TE Connectivity Ltd. (NYSE:TEL) Short Interest Update

TE Connectivity Ltd. (NYSE:TEL) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,180,000 shares, a drop of 19.3% from the October 31st total of 2,700,000 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,600,000 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

A number of research firms have recently commented on TEL. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC cut 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. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Performance

TE Connectivity stock opened at $151.12 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a fifty day moving average price of $149.34 and a two-hundred day moving average price of $149.72. The company has a market cap of $45.21 billion, a PE ratio of 14.71, a P/E/G ratio of 2.05 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during 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%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. Research analysts expect that TE Connectivity will post 8.14 earnings per share for the current year.

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

Institutional Trading of TE Connectivity

Several hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its position in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC bought a new position in shares of TE Connectivity during the second quarter worth about $30,000. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% in the 3rd 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 period. Bank & Trust Co bought a new stake in TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC boosted its stake in TE Connectivity by 2,450.0% during 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 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.