TE Connectivity (NYSE:TEL) Reaches New 12-Month High at $147.89

Shares of TE Connectivity Ltd. (NYSE:TEL - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $147.89 and last traded at $147.07, with a volume of 178542 shares traded. The stock had previously closed at $145.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TEL shares. Wells Fargo & Company started coverage on shares of TE Connectivity in a research report on Friday, December 15th. They issued an "equal weight" rating and a $144.00 price target for the company. StockNews.com started coverage on shares of TE Connectivity in a research report on Friday, March 29th. They issued a "buy" rating for the company. Truist Financial lifted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a "hold" rating in a research report on Thursday, January 25th. Citigroup started coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a "neutral" rating and a $146.00 price target for the company. Finally, Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $146.67.

TE Connectivity Trading Down 0.8 %

The business's 50 day simple moving average is $142.54 and its two-hundred day simple moving average is $133.93. The stock has a market cap of $44.90 billion, a P/E ratio of 13.71, a PEG ratio of 2.03 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. As a group, analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.80%. TE Connectivity's dividend payout ratio (DPR) is presently 22.39%.

TE Connectivity declared that its Board of Directors has approved a share repurchase program on Tuesday, December 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the business's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lee Danner & Bass Inc. lifted its stake in shares of TE Connectivity by 2.5% during the 4th quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker's stock valued at $433,000 after buying an additional 74 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in shares of TE Connectivity by 3.2% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker's stock valued at $348,000 after buying an additional 78 shares in the last quarter. BOKF NA lifted its stake in TE Connectivity by 10.2% in the 4th quarter. BOKF NA now owns 840 shares of the electronics maker's stock worth $118,000 after purchasing an additional 78 shares in the last quarter. IHT Wealth Management LLC lifted its stake in TE Connectivity by 3.6% in the 2nd quarter. IHT Wealth Management LLC now owns 2,321 shares of the electronics maker's stock worth $325,000 after purchasing an additional 80 shares in the last quarter. Finally, Vista Investment Management lifted its stake in TE Connectivity by 0.7% in the 3rd quarter. Vista Investment Management now owns 11,970 shares of the electronics maker's stock worth $1,479,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Company Profile

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.