TE Connectivity (NYSE:TEL) Reaches New 52-Week High - Here's What Happened

Key Points

• TE Connectivity's stock reached a new 52-week high of $208.52, with a trading volume of almost 380,000 shares.
• Analysts have generally favorable outlooks, with multiple brokerages raising their target prices; the stock currently has a consensus rating of "Moderate Buy".
• The company reported Q2 earnings of $2.27 EPS, exceeding expectations and marking a revenue increase of 13.9% year-over-year.

TE Connectivity Ltd. (NYSE:TEL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $208.47 and last traded at $208.52, with a volume of 379972 shares traded. The stock had previously closed at $208.06.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEL. JPMorgan Chase & Co. raised their target price on TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research report on Thursday. Wells Fargo & Company raised their target price on TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Thursday. KGI Securities raised TE Connectivity to a "hold" rating in a research report on Thursday. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research report on Thursday, April 24th. Finally, Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $194.80.

TE Connectivity Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The company has a 50 day moving average price of $169.73 and a 200 day moving average price of $153.91. The company has a market capitalization of $61.90 billion, a price-to-earnings ratio of 43.22, a P/E/G ratio of 2.52 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $1.91 EPS. Equities research analysts predict 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 paid a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.36%. TE Connectivity's dividend payout ratio (DPR) is currently 58.80%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the transaction, the insider owned 23,667 shares of the company's stock, valued at $4,562,524.26. This trade represents a 69.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,675 shares of company stock worth $39,794,121. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of TE Connectivity by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock valued at $5,353,401,000 after buying an additional 5,502,415 shares in the last quarter. Dodge & Cox raised its holdings in TE Connectivity by 0.4% during the 1st quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker's stock valued at $2,264,297,000 after acquiring an additional 56,871 shares during the period. Wellington Management Group LLP raised its holdings in TE Connectivity by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker's stock valued at $1,054,133,000 after acquiring an additional 1,097,035 shares during the period. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 17.1% during the 1st quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker's stock valued at $927,571,000 after acquiring an additional 960,276 shares during the period. Finally, Geode Capital Management LLC raised its holdings in TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after acquiring an additional 33,340 shares during the period. 91.43% of the stock is owned by institutional investors.

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.

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