TE Connectivity (NYSE:TEL) Shares Cross Below 200-Day Moving Average - Time to Sell?

Key Points

• TE Connectivity shares fell below their 200-day moving average, trading as low as $206.24 versus the average of $212.66.
• Analyst views were mixed, but the consensus remained “Moderate Buy” among 17 analysts, with an average price target of $255.50.
• The company beat quarterly earnings and revenue estimates, with revenue up 11.9% year over year, and declared a $0.78 quarterly dividend.

Shares of TE Connectivity Ltd. (NYSE:TEL - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $212.66 and traded as low as $206.24. TE Connectivity shares last traded at $206.8390, with a volume of 2,869,960 shares trading hands.

Wall Street Analyst Weigh In

TEL has been the subject of a number of analyst reports. Fox Advisors lowered TE Connectivity from an "overweight" rating to an "equal weight" rating in a research note on Monday. Truist Financial decreased their target price on shares of TE Connectivity from $240.00 to $215.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TE Connectivity in a research note on Thursday, October 22nd. JPMorgan Chase & Co. lowered their price target on shares of TE Connectivity from $260.00 to $235.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $209.00 to $220.00 and gave the company a "cautious" rating in a research report on Friday, September 11th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average target price of $255.50.

TE Connectivity Stock Performance

The business has a fifty day moving average of $212.07 and a 200-day moving average of $212.66. The company has a market cap of $59.88 billion, a PE ratio of 18.68, a P/E/G ratio of 1.39 and a beta of 1.15. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.07. The business had revenue of $5.31 billion during the quarter, compared to analysts' expectations of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 13.43 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is presently 28.18%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in TE Connectivity by 5.7% during the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker's stock valued at $2,750,079,000 after buying an additional 730,084 shares during the last quarter. Wellington Management Group LLP raised its position in TE Connectivity by 48.2% in the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker's stock worth $1,554,259,000 after acquiring an additional 2,507,569 shares during the period. Baird Financial Group Inc. boosted its stake in shares of TE Connectivity by 3.5% during the 2nd quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker's stock worth $652,796,000 after acquiring an additional 109,020 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of TE Connectivity by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker's stock worth $618,121,000 after acquiring an additional 118,284 shares during the last quarter. Finally, Amundi grew its position in shares of TE Connectivity by 37.2% during the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker's stock valued at $471,733,000 after acquiring an additional 612,180 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.

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