TE Connectivity (NYSE:TEL) Stock Rating Lowered by Hsbc Global Res

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

TEL has been the subject of a number of other reports. Vertical Research began coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price for the company. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a report on Thursday. Bank of America reduced their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Finally, Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $150.02 on Thursday. The firm’s 50 day moving average is $147.94 and its two-hundred day moving average is $148.45. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $45.59 billion, a P/E ratio of 14.61, a PEG ratio of 1.95 and a beta of 1.33. TE Connectivity has a 52 week low of $122.30 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. Analysts anticipate that TE Connectivity will post 8.15 earnings per share for the current year.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in shares of TE Connectivity by 25.3% during the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after purchasing an additional 58,219 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in TE Connectivity by 17.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock valued at $52,456,000 after buying an additional 52,824 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in TE Connectivity by 72.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after buying an additional 135,548 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in TE Connectivity in the 2nd quarter valued at $15,847,000. Finally, Headlands Technologies LLC grew its stake in TE Connectivity by 2,037.3% in the 1st quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock valued at $525,000 after buying an additional 3,443 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

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.