TE Connectivity (TEL) Rating Increased to Buy at Cross Research

TE Connectivity (NYSE:TEL) was upgraded by stock analysts at Cross Research from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other research firms have also recently issued reports on TEL. Wells Fargo & Company assumed coverage on TE Connectivity in a research report on Friday, November 10th. They issued an “outperform” rating and a $105.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $98.00 price objective on shares of TE Connectivity in a research report on Friday, November 3rd. Cowen reaffirmed an “outperform” rating and issued a $110.00 price objective (up from $95.00) on shares of TE Connectivity in a research report on Thursday. Royal Bank Of Canada cut their price objective on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Finally, SunTrust Banks raised their price objective on TE Connectivity to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. TE Connectivity has a consensus rating of “Buy” and an average price target of $151.07.

TE Connectivity (TEL) opened at $94.82 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. The firm has a market capitalization of $33,340.00, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. TE Connectivity has a one year low of $66.20 and a one year high of $96.68.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm posted $1.22 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. equities research analysts predict that TE Connectivity will post 5.27 EPS for the current year.

TE Connectivity announced that its board has authorized a stock buyback program on Friday, December 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In related news, CFO Heath A. Mitts sold 10,736 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total transaction of $999,951.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total value of $11,924,025.93. Following the sale, the insider now directly owns 429,500 shares of the company’s stock, valued at $39,209,055. The disclosure for this sale can be found here. Over the last three months, insiders have sold 759,805 shares of company stock valued at $69,542,539. 1.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in TE Connectivity by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after acquiring an additional 521,884 shares during the period. Boston Partners increased its stake in TE Connectivity by 8.1% during the 3rd quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after acquiring an additional 934,796 shares during the period. Janus Henderson Group PLC increased its stake in TE Connectivity by 17.7% during the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after acquiring an additional 1,239,920 shares during the period. FMR LLC increased its stake in TE Connectivity by 9.7% during the 2nd quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after acquiring an additional 472,037 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in TE Connectivity by 9.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock worth $315,955,000 after acquiring an additional 346,093 shares during the period. 90.22% of the stock is owned by institutional investors and hedge funds.

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TE Connectivity Company Profile

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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