TE Connectivity Ltd. (NYSE:TEL) Receives Average Recommendation of “Hold” from Analysts

Shares of TE Connectivity Ltd. (NYSE:TEL) have received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $159.36.

TEL has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a report on Thursday, October 31st. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of TE Connectivity by 13.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,504 shares of the electronics maker’s stock worth $4,438,000 after buying an additional 3,451 shares during the last quarter. Blue Trust Inc. lifted its position in TE Connectivity by 48.6% during the 2nd quarter. Blue Trust Inc. now owns 700 shares of the electronics maker’s stock worth $102,000 after acquiring an additional 229 shares during the period. Nisa Investment Advisors LLC grew its stake in TE Connectivity by 3.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 67,090 shares of the electronics maker’s stock valued at $10,092,000 after purchasing an additional 2,010 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of TE Connectivity by 4.2% in the second quarter. First Horizon Advisors Inc. now owns 3,134 shares of the electronics maker’s stock valued at $471,000 after purchasing an additional 125 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of TE Connectivity by 1.5% in the second quarter. First Citizens Bank & Trust Co. now owns 28,477 shares of the electronics maker’s stock worth $4,284,000 after purchasing an additional 429 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

TE Connectivity stock opened at $143.89 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. The stock has a market cap of $43.05 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The firm has a 50-day moving average of $150.15 and a two-hundred day moving average of $149.70. TE Connectivity has a 1 year low of $128.52 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. On average, research analysts forecast 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 buyback 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.