TE Connectivity (NYSE:TEL) Upgraded at HSBC

HSBC upgraded shares of TE Connectivity (NYSE:TEL) from a reduce rating to a hold rating in a research note published on Thursday, Marketbeat reports. The brokerage currently has $166.00 price target on the electronics maker’s stock.

A number of other equities analysts have also weighed in on TEL. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Trading Down 1.5 %

Shares of NYSE TEL opened at $154.64 on Thursday. The firm’s 50 day moving average price is $147.62 and its 200-day moving average price is $148.88. TE Connectivity has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The company has a market cap of $46.16 billion, a PE ratio of 24.70, a P/E/G ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3,916,310.63 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. On average, equities research analysts expect that TE Connectivity will post 8.1 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEL. Ameriprise Financial Inc. boosted its position in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the period. Nordea Investment Management AB purchased a new position in shares of TE Connectivity during the 4th quarter valued at $149,211,000. Franklin Resources Inc. boosted its holdings in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the period. EdgePoint Investment Group Inc. increased its stake in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after acquiring an additional 506,754 shares during the period. Institutional investors own 91.43% of the company’s stock.

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.