TE Connectivity (NYSE:TEL) Stock Rating Lowered by Hsbc Global Res

TE Connectivity (NYSE:TEL) was downgraded by research analysts at Hsbc Global Res from a “hold” rating to a “moderate sell” rating in a research report issued on Thursday, Zacks.com reports.

Other analysts have also issued reports about the stock. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Performance

NYSE TEL opened at $150.02 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 0.99. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.95 and a beta of 1.33. The company’s fifty day moving average is $147.94 and its two-hundred day moving average is $148.45. TE Connectivity has a 52-week low of $122.30 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. Equities research analysts forecast that TE Connectivity will post 8.15 EPS for the current year.

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

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors have recently modified their holdings of TEL. Versant Capital Management Inc raised its stake in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of TE Connectivity in the second quarter worth about $30,000. Armstrong Advisory Group Inc. raised its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co bought a new stake in shares of TE Connectivity during the second quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

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.