HSBC Downgrades TE Connectivity (NYSE:TEL) to Hold

TE Connectivity (NYSE:TEL) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $162.00 price objective on the electronics maker’s stock. HSBC’s price objective indicates a potential upside of 4.83% from the stock’s current price.

A number of other brokerages also recently issued reports on TEL. Bank of America increased their target price on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company dropped their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Robert W. Baird dropped their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Stock Down 1.5 %

Shares of NYSE TEL opened at $154.54 on Wednesday. The stock has a market cap of $47.32 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $159.98. The business has a 50-day moving average price of $151.13 and a 200 day moving average price of $144.95.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. Equities research analysts forecast that TE Connectivity will post 7.5 earnings per share for the current year.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 20,794 shares of company stock worth $3,102,206 in the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC raised its position in shares of TE Connectivity by 97.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $30,000. Finally, Godsey & Gibb Inc. boosted its stake in TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds 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.