TE Connectivity Ltd. (NYSE:TEL) Given Average Recommendation of "Moderate Buy" by Brokerages

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $163.90.

A number of brokerages recently weighed in on TEL. Wall Street Zen downgraded shares of TE Connectivity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group upped their target price on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a report on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Friday, April 25th. Finally, Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th.

TE Connectivity Stock Up 1.8%

Shares of TE Connectivity stock opened at $173.39 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $159.92 and a 200 day moving average price of $149.48. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $173.58. The firm has a market cap of $51.42 billion, a P/E ratio of 38.11, a P/E/G ratio of 2.23 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS. On average, sell-side analysts forecast that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 62.42%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the sale, the executive vice president directly owned 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock worth $29,596,059 over the last ninety days. Insiders own 0.90% of the company's stock.

Institutional Trading of TE Connectivity

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SRS Capital Advisors Inc. raised its position in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after acquiring an additional 107 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of TE Connectivity in the 1st quarter worth approximately $32,000. Ransom Advisory Ltd acquired a new stake in TE Connectivity during the first quarter valued at approximately $34,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in TE Connectivity during the first quarter worth approximately $34,000. Institutional investors own 91.43% of the company's stock.

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.

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