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

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

Other equities analysts have also issued reports about the company. HSBC raised 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, April 24th. Truist Financial decreased their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price target 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. StockNews.com cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $159.50.

TE Connectivity Trading Down 0.8 %

TEL traded down $1.20 on Thursday, reaching $144.05. 661,010 shares of the company's stock were exchanged, compared to its average volume of 1,679,881. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.11 and a beta of 1.25. 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 twelve month low of $116.30 and a twelve month high of $159.98. The company's 50 day moving average is $141.02 and its 200-day moving average is $146.04.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts predict that TE Connectivity will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of TE Connectivity in the 4th quarter worth about $909,598,000. Vanguard Group Inc. increased its stake in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Norges Bank bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $508,199,000. Clearbridge Investments LLC boosted its position in shares of TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after buying an additional 1,702,825 shares during the period. Finally, Amundi bought a new position in TE Connectivity in the 4th quarter worth approximately $159,992,000. 91.43% of the stock is owned by institutional investors and hedge funds.

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.