Zacks Investment Research upgraded shares of TE Connectivity (NYSE:TEL) from a sell rating to a hold rating in a research report released on Thursday.

According to Zacks, “TE Connectivity strong progress on its strategic priorities is expected to benefit its business in the long run. Further, its well-performing industrial and communications solutions portfolio is a major positive. Notably, the stock has outperformed the industry it belongs to over a year. However, intensifying competition in the electronic components market poses a severe pricing pressure and risk to its market share. The company is currently suffering from end market fluctuations due to which the company has provided weak guidance for the current quarter. Also, sluggish auto production in Europe and China remains a concern for the company’s transportation solutions segment.”

TEL has been the subject of a number of other reports. Morgan Stanley cut their price objective on shares of TE Connectivity from $116.00 to $107.00 and set an overweight rating for the company in a research report on Monday, September 17th. ValuEngine upgraded shares of TE Connectivity from a sell rating to a hold rating in a research report on Tuesday, December 18th. Robert W. Baird reiterated a hold rating and set a $79.00 target price on shares of TE Connectivity in a research report on Sunday, January 6th. Royal Bank of Canada dropped their target price on shares of TE Connectivity to $96.00 and set a positive rating for the company in a research report on Thursday, November 1st. They noted that the move was a valuation call. Finally, Macquarie assumed coverage on shares of TE Connectivity in a research report on Monday, October 8th. They set an outperform rating for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $101.27.

TEL stock opened at $78.46 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.41 and a quick ratio of 0.98. TE Connectivity has a 12 month low of $69.84 and a 12 month high of $108.23. The company has a market capitalization of $26.44 billion, a PE ratio of 13.99, a PEG ratio of 1.21 and a beta of 1.01.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 31st. The electronics maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the business earned $1.25 earnings per share. TE Connectivity’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that TE Connectivity will post 5.7 EPS for the current year.

TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds have recently bought and sold shares of TEL. FMR LLC raised its stake in shares of TE Connectivity by 7.6% during the second quarter. FMR LLC now owns 4,943,198 shares of the electronics maker’s stock worth $445,184,000 after acquiring an additional 347,329 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of TE Connectivity by 42.8% during the second quarter. First Republic Investment Management Inc. now owns 46,136 shares of the electronics maker’s stock worth $4,155,000 after acquiring an additional 13,827 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of TE Connectivity by 3.0% during the second quarter. Voya Investment Management LLC now owns 89,018 shares of the electronics maker’s stock worth $8,017,000 after acquiring an additional 2,554 shares in the last quarter. Morgan Stanley raised its stake in shares of TE Connectivity by 22.6% during the second quarter. Morgan Stanley now owns 1,747,507 shares of the electronics maker’s stock worth $157,381,000 after acquiring an additional 322,488 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of TE Connectivity during the second quarter worth approximately $111,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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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