TE Connectivity (NYSE:TEL) Rating Increased to Hold at HSBC

TE Connectivity (NYSE:TEL) was upgraded by equities researchers at HSBC from a “reduce” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm currently has a $166.00 price target on the electronics maker’s stock. HSBC’s price target would indicate a potential upside of 7.64% from the stock’s previous close.

TEL has been the topic of a number of other research reports. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup increased their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.36.

TE Connectivity Stock Up 4.0 %

TE Connectivity stock opened at $154.22 on Thursday. The firm has a market capitalization of $46.03 billion, a PE ratio of 15.00, a P/E/G ratio of 2.02 and a beta of 1.32. The company’s 50-day moving average is $147.43 and its 200-day moving average is $148.80. TE Connectivity has a fifty-two week low of $133.57 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

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, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. During the same period in the previous year, the business earned $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts anticipate that TE Connectivity will post 8.1 earnings per share for the current year.

TE Connectivity announced that its board has authorized a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently modified their holdings of the company. Forsta AP Fonden increased its position in shares of TE Connectivity by 47.6% during the fourth quarter. Forsta AP Fonden now owns 113,800 shares of the electronics maker’s stock worth $16,270,000 after buying an additional 36,700 shares during the period. Asset Dedication LLC increased its position in shares of TE Connectivity by 440.0% during the fourth quarter. Asset Dedication LLC now owns 486 shares of the electronics maker’s stock worth $69,000 after buying an additional 396 shares during the period. R Squared Ltd acquired a new stake in shares of TE Connectivity during the fourth quarter worth $64,000. Piscataqua Savings Bank acquired a new stake in shares of TE Connectivity during the fourth quarter worth $1,534,000. Finally, Webster Bank N. A. acquired a new stake in shares of TE Connectivity during the fourth quarter worth $61,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.