TE Connectivity (NYSE:TEL) Rating Lowered to Reduce at HSBC

HSBC lowered shares of TE Connectivity (NYSE:TEL - Free Report) from a hold rating to a reduce rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $137.00 target price on the electronics maker's stock.

Other equities research analysts have also issued reports about the stock. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut their target price 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. Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company cut their target price on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $159.55.

TE Connectivity Trading Down 2.9 %

Shares of NYSE:TEL traded down $4.37 during trading on Thursday, reaching $147.42. The stock had a trading volume of 2,616,011 shares, compared to its average volume of 1,849,101. The firm's fifty day moving average is $148.06 and its 200 day moving average is $148.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. TE Connectivity has a 52 week low of $116.01 and a 52 week high of $159.98. The stock has a market cap of $45.14 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.92 and a beta of 1.33.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the firm posted $1.78 EPS. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity will post 7.57 EPS for the current fiscal year.

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

Institutional Trading of TE Connectivity

Several institutional investors and hedge funds have recently made changes to their positions in TEL. Norden Group LLC purchased a new stake in shares of TE Connectivity in the first quarter valued at about $575,000. Ashton Thomas Private Wealth LLC increased its holdings in TE Connectivity by 62.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 12,996 shares of the electronics maker's stock worth $1,888,000 after buying an additional 4,981 shares during the last quarter. Van ECK Associates Corp increased its holdings in TE Connectivity by 7.6% during the first quarter. Van ECK Associates Corp now owns 45,705 shares of the electronics maker's stock worth $6,638,000 after buying an additional 3,240 shares during the last quarter. Mission Wealth Management LP purchased a new stake in TE Connectivity during the first quarter worth about $307,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in TE Connectivity by 10.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,535 shares of the electronics maker's stock worth $8,878,000 after buying an additional 6,084 shares during the last quarter. Hedge funds and other 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.