TE Connectivity (NYSE:TEL) Sets New 1-Year High - Still a Buy?

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $178.28 and last traded at $175.56, with a volume of 1656258 shares trading hands. The stock had previously closed at $176.18.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEL. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research note on Thursday, April 24th. UBS Group raised their price target on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company upped their price objective on TE Connectivity from $156.00 to $170.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price target on TE Connectivity from $148.00 to $186.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.10.

TE Connectivity Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The company has a market cap of $52.82 billion, a P/E ratio of 39.16, a P/E/G ratio of 2.17 and a beta of 1.23. The firm's fifty day moving average is $165.42 and its two-hundred day moving average is $151.46.

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

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.59%. TE Connectivity's dividend payout ratio is currently 62.42%.

Insider Buying and Selling at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president directly owned 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,775 shares of company stock worth $29,596,059. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. Costello Asset Management INC purchased a new stake in TE Connectivity during the 1st quarter valued at $28,000. Millstone Evans Group LLC bought a new stake in shares of TE Connectivity in the 1st quarter worth about $32,000. Ransom Advisory Ltd purchased a new position in shares of TE Connectivity during the 1st quarter worth about $34,000. Kelly Lawrence W & Associates Inc. CA bought a new position in TE Connectivity during the 1st quarter valued at about $34,000. Finally, Dagco Inc. purchased a new stake in TE Connectivity in the 1st quarter worth about $35,000. 91.43% of the stock is currently 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.