TE Connectivity Ltd. (NYSE:TEL) Stock Has Average Price Target of $255.50

Key Points

• Analyst sentiment is moderately bullish: 17 firms give TE Connectivity an average “Moderate Buy” rating, with an average 12-month price target of $255.50.
• Quarterly results beat expectations: The company reported earnings of $3.14 per share versus $3.07 expected, while revenue rose 11.9% year over year to $5.31 billion.
• TE Connectivity declared a quarterly dividend of $0.78 per share, equivalent to $3.12 annually and a 1.4% yield; institutional investors own 91.43% of its shares.

Shares of TE Connectivity Ltd. (NYSE:TEL - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $255.50.

A number of research firms have commented on TEL. Truist Financial reduced their price target on TE Connectivity from $240.00 to $215.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. Wells Fargo & Company increased their price target on TE Connectivity from $209.00 to $220.00 and gave the company a "cautious" rating in a research note on Friday, September 11th. The Goldman Sachs Group raised their price objective on TE Connectivity from $284.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Sanford C. Bernstein initiated coverage on TE Connectivity in a research note on Wednesday, September 23rd. They issued an "outperform" rating and a $243.00 price objective on the stock. Finally, Barclays upped their target price on TE Connectivity from $300.00 to $304.00 and gave the company an "overweight" rating in a report on Monday, November 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of TE Connectivity by 48.2% during the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker's stock valued at $1,554,259,000 after purchasing an additional 2,507,569 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in TE Connectivity by 44.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,101,659 shares of the electronics maker's stock worth $654,698,000 after purchasing an additional 959,491 shares during the period. Hsbc Holdings PLC increased its holdings in TE Connectivity by 385.0% in the first quarter. Hsbc Holdings PLC now owns 1,115,692 shares of the electronics maker's stock worth $232,677,000 after purchasing an additional 885,658 shares in the last quarter. State Street Corp increased its holdings in TE Connectivity by 5.7% in the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker's stock worth $2,750,079,000 after purchasing an additional 730,084 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in TE Connectivity by 415.4% in the second quarter. Alyeska Investment Group L.P. now owns 849,218 shares of the electronics maker's stock worth $171,211,000 after purchasing an additional 684,463 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Trading Down 0.7%

Shares of NYSE:TEL traded down $1.60 during mid-day trading on Friday, reaching $216.22. 1,350,112 shares of the company's stock were exchanged, compared to its average volume of 2,151,961. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73. TE Connectivity has a twelve month low of $190.27 and a twelve month high of $252.56. The firm has a market capitalization of $61.99 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.36 and a beta of 1.15. The business's fifty day moving average price is $213.45 and its 200-day moving average price is $212.28.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.07. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. TE Connectivity's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. On average, research analysts predict that TE Connectivity will post 13.52 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) is presently 28.18%.

About TE Connectivity

TE Connectivity NYSE: TEL designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems. The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.

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