TE Connectivity (NYSE:TEL) Upgraded to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of TE Connectivity (NYSE:TEL) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

TEL has been the subject of a number of other research reports. Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Citigroup decreased their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lifted their target price on TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, HSBC upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Thursday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.50.

TE Connectivity Price Performance

TEL opened at $144.58 on Thursday. 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. The company has a 50-day moving average of $141.45 and a 200-day moving average of $146.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Equities analysts expect that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.96%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is presently 45.37%.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Several large investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its position in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC bought a new position in TE Connectivity during the 4th quarter valued at $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the 4th quarter valued at $44,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of TE Connectivity in the 1st quarter worth $47,000. 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.