TE Connectivity (NYSE:TEL) was upgraded by analysts at Cross Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada lowered their target price on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Cowen reaffirmed an “outperform” rating and set a $110.00 target price (up previously from $95.00) on shares of TE Connectivity in a research note on Thursday. Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Citigroup increased their target price on shares of TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Morgan Stanley increased their target price on shares of TE Connectivity from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $151.07.

Shares of TE Connectivity (NYSE:TEL) traded up $1.61 during mid-day trading on Friday, reaching $93.89. 1,798,400 shares of the company’s stock traded hands, compared to its average volume of 1,440,546. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $32,449.08, a price-to-earnings ratio of 19.11, a PEG ratio of 1.61 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 announced its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. TE Connectivity’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. sell-side analysts anticipate that TE Connectivity will post 5.27 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a stock buyback program on Friday, December 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

In other news, SVP Eric Resch sold 48,950 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $93.75, for a total transaction of $4,589,062.50. Following the sale, the senior vice president now owns 78,129 shares of the company’s stock, valued at $7,324,593.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Heath A. Mitts sold 10,736 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total transaction of $999,951.04. The disclosure for this sale can be found here. Insiders have sold 759,805 shares of company stock worth $69,542,539 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its holdings in TE Connectivity by 4.6% in the second quarter. Prudential Financial Inc. now owns 511,865 shares of the electronics maker’s stock valued at $40,273,000 after acquiring an additional 22,478 shares in the last quarter. Calamos Advisors LLC raised its holdings in TE Connectivity by 2.7% in the second quarter. Calamos Advisors LLC now owns 57,157 shares of the electronics maker’s stock valued at $4,497,000 after acquiring an additional 1,512 shares in the last quarter. Swiss National Bank raised its holdings in TE Connectivity by 3.0% in the second quarter. Swiss National Bank now owns 1,297,509 shares of the electronics maker’s stock valued at $102,088,000 after acquiring an additional 38,400 shares in the last quarter. Vanguard Group Inc. raised its holdings in TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after acquiring an additional 521,884 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its holdings in TE Connectivity by 5.0% in the second quarter. Atlantic Trust Group LLC now owns 177,785 shares of the electronics maker’s stock valued at $13,989,000 after acquiring an additional 8,438 shares in the last quarter. 90.22% of the stock is currently owned by hedge funds and other institutional investors.

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About TE Connectivity

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.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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