TE Connectivity (NYSE:TEL) Upgraded to Hold at HSBC

HSBC upgraded shares of TE Connectivity (NYSE:TEL) from a reduce rating to a hold rating in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has $166.00 price target on the electronics maker’s stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Seven investment 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 stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Stock Up 1.1 %

Shares of TE Connectivity stock opened at $156.73 on Thursday. 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 has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a market cap of $46.78 billion, a P/E ratio of 25.04, a PEG ratio of 2.12 and a beta of 1.32. The company’s fifty day simple moving average is $147.43 and its two-hundred day simple moving average is $148.80.

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 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 company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same quarter in the previous year, the company earned $1.84 earnings per share. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. Research analysts anticipate that TE Connectivity will post 8.1 EPS for the current year.

TE Connectivity announced that its board has approved a share buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its position in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC lifted its position in TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd boosted its holdings in TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after purchasing an additional 12,140 shares during the period. 91.43% of the stock is owned by 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.