StockNews.com Downgrades TE Connectivity (NYSE:TEL) to Buy

TE Connectivity (NYSE:TEL) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

TEL has been the topic of several other research reports. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Finally, Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Down 1.6 %

Shares of TEL stock opened at $146.51 on Tuesday. The stock’s fifty day moving average is $146.90 and its two-hundred day moving average is $148.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market capitalization of $43.71 billion, a P/E ratio of 23.40, a PEG ratio of 2.01 and a beta of 1.32. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. Research analysts expect that TE Connectivity will post 7.95 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently added to or reduced their stakes in TEL. Wellington Management Group LLP purchased a new stake in TE Connectivity during the fourth quarter worth approximately $909,598,000. Vanguard Group Inc. lifted its stake in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Norges Bank purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $508,199,000. Clearbridge Investments LLC lifted its stake in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Finally, Amundi purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $159,992,000. 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.