TE Connectivity (NYSE:TEL) Downgraded by HSBC

HSBC lowered shares of TE Connectivity (NYSE:TEL) from a buy rating to a hold rating in a report released on Wednesday morning, MarketBeat reports. HSBC currently has $162.00 price objective on the electronics maker’s stock.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. decreased their price target on TE Connectivity from $170.00 to $169.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a buy rating and a $180.00 price target on the stock. Wells Fargo & Company cut their price objective on TE Connectivity from $152.00 to $150.00 and set an equal weight rating on the stock in a report on Tuesday, June 25th. Finally, Bank of America raised their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a buy rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $158.45.

TE Connectivity Stock Up 1.2 %

TEL opened at $156.38 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The firm has a market cap of $47.89 billion, a P/E ratio of 14.31, a PEG ratio of 2.11 and a beta of 1.33. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $159.98. The business’s fifty day simple moving average is $151.23 and its 200 day simple moving average is $145.11.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company earned $1.77 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity will post 7.54 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,794 shares of company stock worth $3,102,206. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of TEL. JFS Wealth Advisors LLC increased its holdings in TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Salem Investment Counselors Inc. grew its position in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc grew its position in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of TE Connectivity in the 2nd quarter worth approximately $30,000. Finally, Godsey & Gibb Inc. grew its position in shares of TE Connectivity by 103.6% in the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 114 shares in the last quarter. 91.43% of the stock is currently 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.