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 released on Thursday morning,Zacks.com reports.

TEL has been the subject of several other reports. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $165.00.

TE Connectivity Stock Performance

TEL opened at $154.64 on Thursday. The company has a market cap of $46.15 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.12 and a beta of 1.32. The company’s fifty day moving average price is $147.43 and its two-hundred day moving average price is $148.80. TE Connectivity has a 1-year low of $137.61 and a 1-year high of $159.98. 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 (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect that TE Connectivity will post 8.1 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TEL. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of TE Connectivity by 2,450.0% during the third 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 in the last quarter. Hilltop National Bank purchased a new position in shares of TE Connectivity in the 4th quarter worth about $55,000. Finally, Webster Bank N. A. bought a new position in TE Connectivity in the 4th quarter worth about $61,000. Hedge funds and other 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.