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TheStreet Open House

5 Rocket Stocks to Buy This Week

TE Connectivity

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TE Connectivity (TEL) is undergoing a big transformation. After spinning off from Tyco International (TYC) in 2007, the firm embarked on a restructuring effort in 2011, changing its name and shaking excess costs out of the business. Now TEL looks well-positioned for the year ahead.

>>3 Big Tech Stocks on Traders' Radars

TE Connectivity operates a relatively boring business. The firm is the largest electronic connector maker in the world, a lucrative operation that doesn't exactly inspire investors the same way that Apple (AAPL) or LinkedIn (LNKD) can. But the ubiquity of electronic connectors in so many applications provides a very attractive market for TEL's products, especially as industrial production continues to recover from the hangover of the Great Recession.

Financially, TE Connectivity is in excellent shape, with more than $1 billion in cash offsetting a total debt position of around $3 billion. That relatively modest leverage for an industrial stock should give TEL the ability to hike its dividend payouts and continue to invest internally as needed. Expect stellar relative strength so far in 2013 to keep up in the second quarter.

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