TE Connectivity (NYSE:TEL) Hits New 12-Month High - What's Next?

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $160.49 and last traded at $160.42, with a volume of 1093769 shares. The stock had previously closed at $152.88.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TEL shares. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price target on TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, UBS Group reiterated a "buy" rating and issued a $163.00 price target (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.50.

TE Connectivity Price Performance

The stock has a market capitalization of $48.18 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a fifty day simple moving average of $141.31 and a 200 day simple moving average of $146.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping 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 firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company posted $1.86 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Insider Transactions at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 5,927 shares of the company's stock, valued at $948,320. The trade was a 34.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 5,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $800,000.00. Following the sale, the insider now directly owns 23,646 shares of the company's stock, valued at $3,783,360. This represents a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,675 shares of company stock valued at $27,062,559. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in TE Connectivity in the fourth quarter valued at approximately $909,598,000. Vanguard Group Inc. lifted its stake in TE Connectivity by 17.0% in the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock valued at $5,353,401,000 after purchasing an additional 5,502,415 shares during the last quarter. Norges Bank purchased a new position in TE Connectivity in the fourth quarter valued at approximately $508,199,000. Clearbridge Investments LLC lifted its stake in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Nuveen LLC purchased a new position in TE Connectivity in the first quarter valued at approximately $174,700,000. Hedge funds and other 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.