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

TE Connectivity Ltd. (NYSE:TEL - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $165.13 and last traded at $164.56, with a volume of 101674 shares. The stock had previously closed at $162.32.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEL. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Friday, April 25th. UBS Group boosted their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Truist Financial lowered their price objective 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. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $162.50.

TE Connectivity Stock Up 1.5%

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 stock has a fifty day moving average price of $146.59 and a two-hundred day moving average price of $147.61. The company has a market cap of $48.84 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter last year, the firm earned $1.86 EPS. The company's quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is 62.42%.

Insider Buying and Selling at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 5,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. Following the transaction, the insider now owns 23,646 shares of the company's stock, valued at approximately $3,783,360. This trade represents a 17.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president now directly owns 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,369,059 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of TE Connectivity

Several large investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $820,000. Spire Wealth Management lifted its holdings in shares of TE Connectivity by 1,156.7% during the fourth quarter. Spire Wealth Management now owns 842 shares of the electronics maker's stock valued at $120,000 after purchasing an additional 775 shares in the last quarter. abrdn plc bought a new position in shares of TE Connectivity during the fourth quarter valued at $15,739,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of TE Connectivity by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,562 shares of the electronics maker's stock valued at $6,133,000 after purchasing an additional 3,716 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC lifted its holdings in shares of TE Connectivity by 7.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,847 shares of the electronics maker's stock valued at $693,000 after purchasing an additional 347 shares in the last quarter. 91.43% of the stock is owned by 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.