TE Connectivity (NYSE:TEL) Cut to Hold at HSBC

HSBC lowered shares of TE Connectivity (NYSE:TEL) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat Ratings reports. HSBC currently has $162.00 price objective on the electronics maker’s stock.

Several other analysts have also recently weighed in on TEL. Jefferies Financial Group started coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a buy rating and a $180.00 target price on the stock. Robert W. Baird decreased their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an outperform rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on TE Connectivity from $170.00 to $169.00 and set a neutral rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, StockNews.com began coverage on TE Connectivity in a research report on Friday, July 19th. They set a buy rating on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $158.45.

TE Connectivity Stock Performance

Shares of TEL stock opened at $156.38 on Wednesday. The firm has a 50 day moving average of $151.23 and a two-hundred day moving average of $145.19. The stock has a market capitalization of $47.89 billion, a PE ratio of 14.31, a P/E/G ratio of 2.11 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $1.77 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. On average, research analysts predict that TE Connectivity will post 7.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,794 shares of company stock valued at $3,102,206. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kintegral Advisory LLC lifted its stake in shares of TE Connectivity by 20.8% in the 2nd quarter. Kintegral Advisory LLC now owns 28,327 shares of the electronics maker’s stock worth $4,261,000 after acquiring an additional 4,887 shares during the period. Checchi Capital Advisers LLC boosted its holdings in TE Connectivity by 7.3% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,555 shares of the electronics maker’s stock valued at $384,000 after purchasing an additional 174 shares in the last quarter. GAM Holding AG increased its position in TE Connectivity by 7.5% during the 2nd quarter. GAM Holding AG now owns 65,072 shares of the electronics maker’s stock worth $9,789,000 after purchasing an additional 4,542 shares during the period. State of Michigan Retirement System raised its stake in shares of TE Connectivity by 1.2% during the 2nd quarter. State of Michigan Retirement System now owns 99,323 shares of the electronics maker’s stock worth $14,941,000 after buying an additional 1,200 shares in the last quarter. Finally, Catalyst Financial Partners LLC acquired a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $281,000. 91.43% of the stock is currently owned by hedge funds and other 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.