TE Connectivity (NYSE:TEL) Upgraded by Hsbc Global Res to “Hold” Rating

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

Other equities research analysts also recently issued research reports about the company. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research 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. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday. The Goldman Sachs Group decreased their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Citigroup boosted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus target price of $165.00.

TE Connectivity Stock Down 1.5 %

Shares of TE Connectivity stock opened at $154.64 on Thursday. TE Connectivity has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.08. The stock has a market cap of $46.16 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.12 and a beta of 1.32. The firm’s 50-day moving average is $147.49 and its two-hundred day moving average is $148.86.

TE Connectivity (NYSE:TEL) last issued 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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. As a group, research analysts expect that TE Connectivity will post 8.1 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a share repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. raised its stake in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Hilltop National Bank acquired a new stake in TE Connectivity during the 4th quarter worth $55,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity during the fourth quarter worth $61,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

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.