TE Connectivity (NYSE:TEL) Releases Quarterly Earnings Results

TE Connectivity (NYSE:TEL - Get Free Report) released its quarterly earnings data on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.03, Briefing.com reports. The business had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.96 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm's quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Stock Performance

Shares of TEL stock traded up $0.44 during trading hours on Thursday, reaching $140.44. 3,219,400 shares of the company traded hands, compared to its average volume of 2,214,311. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $147.98. The company has a market cap of $43.65 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.04 and a beta of 1.39. The firm has a 50-day moving average price of $142.65 and a 200 day moving average price of $136.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity's dividend payout ratio is currently 22.39%.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of the business's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. StockNews.com assumed coverage on TE Connectivity in a report on Monday. They issued a "buy" rating for the company. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Monday, April 1st. JPMorgan Chase & Co. reduced their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating for the company in a report on Thursday. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a "buy" rating and a $180.00 target price on the stock. Finally, Truist Financial lifted their target price on TE Connectivity from $148.00 to $153.00 and gave the company a "hold" rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.50.

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.