TE Connectivity (NYSE:TEL) Reaches New 1-Year High on Analyst Upgrade

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $168.00 to $190.00. Bank of America currently has a buy rating on the stock. TE Connectivity traded as high as $175.25 and last traded at $174.62, with a volume of 626829 shares. The stock had previously closed at $172.65.

A number of other equities research analysts have also recently issued reports on the company. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Thursday, April 24th. Truist Financial lowered their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Friday, April 25th. The Goldman Sachs Group decreased their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Robert W. Baird upped their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Five investment 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.90.

Insider Buying and Selling

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 25,976 shares in the company, valued at $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,775 shares of company stock valued at $29,596,059 in the last 90 days. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baker Tilly Wealth Management LLC grew its holdings in shares of TE Connectivity by 32.1% in the second quarter. Baker Tilly Wealth Management LLC now owns 3,261 shares of the electronics maker's stock worth $550,000 after purchasing an additional 793 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of TE Connectivity by 81.2% in the second quarter. Fulton Bank N.A. now owns 2,694 shares of the electronics maker's stock worth $454,000 after purchasing an additional 1,207 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of TE Connectivity by 11.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,270 shares of the electronics maker's stock worth $7,542,000 after purchasing an additional 4,565 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of TE Connectivity by 70.5% in the second quarter. Baader Bank Aktiengesellschaft now owns 2,522 shares of the electronics maker's stock worth $425,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of TE Connectivity by 1.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,933 shares of the electronics maker's stock worth $6,229,000 after purchasing an additional 692 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $51.87 billion, a P/E ratio of 38.44, a PEG ratio of 2.26 and a beta of 1.23. The firm's fifty day moving average price is $163.29 and its 200-day moving average price is $150.62.

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

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 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.