Jefferies Financial Group Begins Coverage on TE Connectivity (NYSE:TEL)

Investment analysts at Jefferies Financial Group began coverage on shares of TE Connectivity (NYSE:TEL) in a report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $180.00 price target on the electronics maker’s stock. Jefferies Financial Group’s price target points to a potential upside of 24.33% from the stock’s current price.

Several other research analysts also recently commented on the company. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Stifel Nicolaus increased their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Saturday. They set a “buy” rating on the stock. Robert W. Baird raised their price objective on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup started coverage on TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and an average price target of $150.00.

TE Connectivity Price Performance

TE Connectivity stock opened at $144.78 on Tuesday. The stock’s fifty day moving average price is $142.53 and its two-hundred day moving average price is $134.39. The firm has a market cap of $45.00 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. TE Connectivity has a one year low of $115.00 and a one year high of $147.96.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 earnings per share. As a group, research analysts expect that TE Connectivity will post 7.57 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a share repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its holdings in TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of TE Connectivity in the fourth quarter worth $30,000. Crewe Advisors LLC purchased a new stake in shares of TE Connectivity in the fourth quarter worth $33,000. Finally, Sachetta LLC purchased a new position in TE Connectivity during the fourth quarter worth about $34,000. Hedge funds and other 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.