TE Connectivity (NYSE:TEL) Raised to “Hold” at Hsbc Global Res

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

Several other research analysts also recently weighed in on TEL. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Eight equities research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Trading Down 1.2 %

Shares of NYSE:TEL opened at $155.06 on Thursday. TE Connectivity has a 12-month low of $137.61 and a 12-month high of $159.98. The business’s fifty day simple moving average is $147.43 and its 200-day simple moving average is $148.80. The company has a market capitalization of $46.28 billion, a PE ratio of 24.96, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26.

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

TE Connectivity announced that its board has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC lifted its stake in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Franklin Resources Inc. lifted its stake in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of TE Connectivity by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after acquiring an additional 9,864 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

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.