TE Connectivity (NYSE:TEL) Rating Increased to Hold at Hsbc Global Res

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

A number of other research analysts have also recently commented on the company. Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. Eight equities research 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’s stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $154.64 on Thursday. The business has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $148.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market cap of $46.15 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that TE Connectivity will post 8.1 earnings per share for the current year.

TE Connectivity declared that its board has approved a stock repurchase program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity in the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. raised its position in shares of 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 stake in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the period. Hilltop National Bank acquired a new stake in shares of TE Connectivity in the fourth quarter worth $55,000. Finally, Webster Bank N. A. acquired a new position in TE Connectivity during the fourth quarter valued at $61,000. 91.43% of the stock is currently 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.