TE Connectivity Ltd. (NYSE:TEL) Given Consensus Rating of “Hold” by Brokerages

Shares of TE Connectivity Ltd. (NYSE:TEL) have received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $159.55.

A number of research firms recently weighed in on TEL. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Sunday. They set a “buy” rating on the stock. Bank of America cut their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st.

Hedge Funds Weigh In On TE Connectivity

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in shares of TE Connectivity by 24.5% during the third quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker’s stock worth $3,341,000 after purchasing an additional 4,359 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of TE Connectivity by 286.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker’s stock valued at $2,534,000 after buying an additional 12,444 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of TE Connectivity by 124.2% in the third quarter. Sanctuary Advisors LLC now owns 65,749 shares of the electronics maker’s stock worth $10,011,000 after buying an additional 36,423 shares during the last quarter. Anchor Investment Management LLC grew its holdings in TE Connectivity by 14.8% during the third quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock worth $762,000 after acquiring an additional 652 shares during the period. Finally, TCW Group Inc. purchased a new position in TE Connectivity during the third quarter valued at approximately $4,443,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $149.84 on Wednesday. The firm’s fifty day moving average is $149.14 and its two-hundred day moving average is $149.67. TE Connectivity has a 52-week low of $128.52 and a 52-week high of $159.98. The company has a market cap of $44.83 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, analysts anticipate that TE Connectivity will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has authorized a stock buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.