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

TE Connectivity Ltd. (NYSE:TELGet Rating) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $156.36.

TEL has been the topic of a number of research analyst reports. Cowen cut their target price on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a research report on Thursday, June 30th. StockNews.com upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. Morgan Stanley dropped their price target on TE Connectivity from $147.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, June 10th. The Goldman Sachs Group dropped their price target on TE Connectivity from $169.00 to $160.00 in a research report on Wednesday, June 1st. Finally, Cowen dropped their price target on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a research report on Thursday, June 30th.

TEL opened at $111.47 on Wednesday. The business’s 50-day simple moving average is $122.67 and its 200-day simple moving average is $134.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 1.47. TE Connectivity has a one year low of $107.12 and a one year high of $166.44. The stock has a market capitalization of $35.91 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28.

TE Connectivity (NYSE:TELGet Rating) last posted its earnings results on Wednesday, April 27th. The electronics maker reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. TE Connectivity had a return on equity of 22.10% and a net margin of 16.14%. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity will post 7.13 EPS for the current fiscal year.

TE Connectivity announced that its board has initiated a share repurchase plan on Friday, June 17th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

In other TE Connectivity news, Director Thomas J. Lynch sold 12,600 shares of the business’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $126.86, for a total value of $1,598,436.00. Following the completion of the transaction, the director now directly owns 11,750 shares in the company, valued at approximately $1,490,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. MAI Capital Management raised its holdings in TE Connectivity by 1.0% in the 4th quarter. MAI Capital Management now owns 7,465 shares of the electronics maker’s stock valued at $1,204,000 after acquiring an additional 71 shares during the last quarter. Capital Wealth Planning LLC raised its holdings in TE Connectivity by 4.9% in the 4th quarter. Capital Wealth Planning LLC now owns 1,563 shares of the electronics maker’s stock valued at $252,000 after acquiring an additional 73 shares during the last quarter. Barings LLC raised its holdings in TE Connectivity by 3.1% in the 4th quarter. Barings LLC now owns 2,454 shares of the electronics maker’s stock valued at $396,000 after acquiring an additional 74 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in TE Connectivity by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,538 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 75 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of TE Connectivity by 3.2% during the 4th quarter. Huntington National Bank now owns 2,570 shares of the electronics maker’s stock worth $415,000 after buying an additional 79 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

About TE Connectivity (Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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