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

TE Connectivity (NYSE:TEL) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts also recently commented on TEL. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Bank of America upped their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Stock Up 1.0 %

Shares of NYSE:TEL opened at $154.37 on Wednesday. The stock has a market cap of $46.05 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.01 and a beta of 1.32. The firm has a fifty day moving average price of $146.82 and a 200 day moving average price of $148.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. Sell-side analysts predict that TE Connectivity will post 7.95 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its stake in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $44,000. Finally, Hilltop National Bank acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $55,000. 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.