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

StockNews.com upgraded shares of TE Connectivity (NYSE:TEL) from a buy rating to a strong-buy rating in a research report released on Wednesday.

Several other brokerages have also weighed in on TEL. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Finally, HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $159.36.

TE Connectivity Stock Performance

Shares of TEL stock opened at $143.67 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The stock has a 50 day simple moving average of $150.07 and a 200-day simple moving average of $149.66.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the company earned $1.78 earnings per share. TE Connectivity’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that TE Connectivity will post 8.14 EPS for the current year.

TE Connectivity announced that its board has initiated a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Family Firm Inc. purchased a new position in shares of TE Connectivity in the 2nd quarter worth about $43,000. Isthmus Partners LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at about $45,000. Finally, MCF Advisors LLC grew its holdings in shares of TE Connectivity by 2,745.5% during the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 302 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

About TE Connectivity

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.