TE Connectivity (NYSE:TEL) Cut to “Moderate Sell” at Hsbc Global Res

Hsbc Global Res lowered shares of TE Connectivity (NYSE:TEL) from a hold rating to a moderate sell rating in a research report sent to investors on Thursday morning, Zacks.com reports.

A number of other equities analysts have also recently issued reports on TEL. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America cut their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Stock Performance

NYSE:TEL opened at $150.02 on Thursday. The company has a market capitalization of $45.59 billion, a PE ratio of 14.61, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a 50 day simple moving average of $147.94 and a two-hundred day simple moving average of $148.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 1.61. TE Connectivity has a fifty-two week low of $122.30 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 EPS. Research analysts anticipate that TE Connectivity will post 8.16 earnings per share for the current year.

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

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its position in TE Connectivity by 160.6% in the 3rd quarter. Lindbrook Capital LLC now owns 1,665 shares of the electronics maker’s stock valued at $251,000 after buying an additional 1,026 shares during the last quarter. Assetmark Inc. raised its position in TE Connectivity by 11.9% in the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock valued at $342,000 after buying an additional 241 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in TE Connectivity in the 3rd quarter valued at $213,000. Galvin Gaustad & Stein LLC raised its position in TE Connectivity by 12.0% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 4,764 shares of the electronics maker’s stock valued at $719,000 after buying an additional 510 shares during the last quarter. Finally, Washington Trust Bank raised its position in TE Connectivity by 11.2% in the 3rd quarter. Washington Trust Bank now owns 3,249 shares of the electronics maker’s stock valued at $491,000 after buying an additional 326 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other 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.