TE Connectivity (NYSE:TEL) Lowered to Moderate Sell Rating by Hsbc Global Res

Hsbc Global Res lowered shares of TE Connectivity (NYSE:TEL) from a hold rating to a moderate sell rating in a research report sent to investors on Thursday, Zacks.com reports.

Several other equities analysts have also issued reports on the company. Vertical Research started coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective on the stock. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Robert W. Baird raised their price objective 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. StockNews.com started coverage on shares of TE Connectivity in a research report on Thursday. They issued a “buy” rating for the company. Finally, Truist Financial raised their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Performance

Shares of TEL stock opened at $147.42 on Thursday. The stock’s 50-day moving average is $148.00 and its two-hundred day moving average is $148.39. The firm has a market cap of $44.80 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.95 and a beta of 1.33. TE Connectivity has a 1 year low of $116.01 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data 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 return on equity of 18.48% and a net margin of 20.15%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. Analysts predict that TE Connectivity will post 8.15 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in TE Connectivity by 209.8% in the 2nd 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 period. Olistico Wealth LLC purchased a new stake in TE Connectivity in the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. grew 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 worth $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co purchased a new stake in TE Connectivity in the 2nd quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC grew its stake 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 worth $39,000 after acquiring an additional 245 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.