Hsbc Global Res Upgrades TE Connectivity (NYSE:TEL) to “Strong-Buy”

TE Connectivity (NYSE:TEL) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

TEL has been the topic of a number of other reports. Citigroup dropped their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Thursday. Truist Financial lowered their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, UBS Group reiterated a “buy” rating and issued a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $159.50.

TE Connectivity Price Performance

TEL stock opened at $144.58 on Thursday. The business has a 50 day simple moving average of $141.45 and a 200-day simple moving average of $146.08. The company has a market capitalization of $43.14 billion, a P/E ratio of 23.10, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity has a twelve month low of $116.30 and a twelve month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. As a group, equities analysts anticipate that TE Connectivity will post 8.05 EPS for the current year.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently modified their holdings of TEL. Central Pacific Bank Trust Division acquired a new stake in shares of TE Connectivity during the fourth quarter worth $2,920,000. Meyer Handelman Co. grew its holdings in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares during the period. abrdn plc acquired a new position in shares of TE Connectivity during the 4th quarter valued at about $15,739,000. Truist Financial Corp lifted its holdings in shares of TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after acquiring an additional 31,991 shares during the period. Finally, Carnegie Investment Counsel boosted its position in shares of TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after acquiring an additional 4,913 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.