Brokerages Set TE Connectivity Ltd. (NYSE:TEL) Target Price at $159.50

Shares of TE Connectivity Ltd. (NYSE:TEL - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $159.50.

TEL has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Robert W. Baird increased their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Truist Financial cut their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th.

TE Connectivity Stock Up 0.6%

TE Connectivity stock traded up $0.91 during mid-day trading on Wednesday, reaching $164.03. The stock had a trading volume of 1,411,880 shares, compared to its average volume of 1,696,545. The company has a 50-day moving average price of $142.01 and a two-hundred day moving average price of $146.64. TE Connectivity has a one year low of $116.30 and a one year high of $164.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market capitalization of $48.64 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the prior year, the firm posted $1.86 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts expect that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.73%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 62.42%.

Insider Activity

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the sale, the executive vice president now owns 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer now owns 45,503 shares in the company, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,675 shares of company stock valued at $27,062,559. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently made changes to their positions in the stock. MBB Public Markets I LLC acquired a new stake in shares of TE Connectivity during the 1st quarter worth approximately $310,000. Ascent Group LLC acquired a new stake in TE Connectivity in the 1st quarter worth about $364,000. United Services Automobile Association acquired a new position in shares of TE Connectivity during the first quarter valued at approximately $993,000. Voleon Capital Management LP lifted its holdings in TE Connectivity by 97.6% in the 1st quarter. Voleon Capital Management LP now owns 30,254 shares of the electronics maker's stock valued at $4,275,000 after purchasing an additional 14,945 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in TE Connectivity by 7.0% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 15,625 shares of the electronics maker's stock valued at $2,208,000 after acquiring an additional 1,023 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.