TE Connectivity (NYSE:TEL) Downgraded to Reduce Rating by HSBC

HSBC cut shares of TE Connectivity (NYSE:TEL) from a hold rating to a reduce rating in a research report released on Thursday morning, Marketbeat reports. They currently have $137.00 price target on the electronics maker’s stock.

Several other brokerages also recently commented on TEL. Hsbc Global Res raised TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com started coverage on shares of TE Connectivity in a research report on Thursday. They issued a “buy” rating for the company. Bank of America dropped their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Up 1.8 %

Shares of TEL opened at $150.02 on Thursday. The company has a market capitalization of $45.59 billion, a P/E ratio of 14.61, a PEG ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 0.99. TE Connectivity has a one year low of $122.30 and a one year high of $159.98. The business’s 50 day simple moving average is $147.94 and its 200-day simple moving average is $148.54.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts predict that TE Connectivity will post 8.16 EPS for the current fiscal year.

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

Institutional Trading of TE Connectivity

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. increased 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 buying an additional 150 shares in the last quarter. Bank & Trust Co bought a new stake in shares of TE Connectivity in the 2nd quarter valued at $35,000. Finally, Wolff Wiese Magana LLC boosted its stake in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Institutional investors own 91.43% of the company’s stock.

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.