TE Connectivity (NYSE:TEL) Hits New 52-Week High Following Analyst Upgrade

TE Connectivity Ltd. (NYSE:TEL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $175.25 and last traded at $174.62, with a volume of 626829 shares traded. The stock had previously closed at $172.65.

Several other analysts have also issued reports on TEL. JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. 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 upped their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Bank of America upped their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $171.70.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This represents a 49.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was 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 directly owned 45,503 shares of the company's stock, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,775 shares of company stock worth $29,596,059. Company insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of TE Connectivity by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock worth $2,479,000 after acquiring an additional 192 shares in the last quarter. J. Safra Sarasin Holding AG increased its position in TE Connectivity by 128.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock valued at $2,219,000 after buying an additional 8,728 shares in the last quarter. Beverly Hills Private Wealth LLC increased its position in TE Connectivity by 61.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock valued at $1,587,000 after buying an additional 4,214 shares in the last quarter. NEOS Investment Management LLC increased its position in TE Connectivity by 29.8% during the 4th quarter. NEOS Investment Management LLC now owns 16,254 shares of the electronics maker's stock valued at $2,324,000 after buying an additional 3,728 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after buying an additional 592,072 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 1.2%

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 $52.53 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The stock has a 50-day moving average of $163.83 and a two-hundred day moving average of $150.90.

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, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the company earned $1.86 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

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 given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

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.