TE Connectivity Ltd. (NYSE:TEL - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,444,906 shares were traded during trading, a decline of 33% from the previous session's volume of 2,142,973 shares.The stock last traded at $141.62 and had previously closed at $143.23.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on TEL shares. JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Jefferies Financial Group started coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a "buy" rating and a $180.00 price target on the stock. 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 report on Thursday, January 25th. 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 report on Thursday, January 25th. Finally, Stifel Nicolaus boosted their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $153.30.
View Our Latest Stock Analysis on TE Connectivity
TE Connectivity Trading Down 2.3 %
The company has a market cap of $43.51 billion, a PE ratio of 13.28, a P/E/G ratio of 2.04 and a beta of 1.39. The stock's 50 day moving average is $142.65 and its 200-day moving average is $136.02. 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 released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.59 EPS for the current year.
TE Connectivity Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity's dividend payout ratio (DPR) is 24.67%.
Insider Transactions at TE Connectivity
In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.86% of the company's stock.
Institutional Trading of TE Connectivity
Several hedge funds have recently modified their holdings of TEL. Norges Bank purchased a new stake in shares of TE Connectivity during the fourth quarter valued at about $693,985,000. Qube Research & Technologies Ltd purchased a new stake in shares of TE Connectivity during the third quarter valued at about $165,640,000. First Trust Advisors LP raised its position in shares of TE Connectivity by 150.9% in the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker's stock valued at $301,151,000 after purchasing an additional 1,289,230 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of TE Connectivity by 1,000.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker's stock valued at $193,965,000 after purchasing an additional 1,214,122 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker's stock valued at $510,015,000 after purchasing an additional 403,750 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.
About TE Connectivity
(
Get Free Report)
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.
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