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

Shares of TE Connectivity Ltd. (NYSE:TEL - Get Free Report) reached a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $156.00 to $170.00. Wells Fargo & Company currently has an equal weight rating on the stock. TE Connectivity traded as high as $171.43 and last traded at $170.30, with a volume of 1418808 shares. The stock had previously closed at $168.67.

Other equities research analysts have also recently issued reports about the stock. UBS Group upped their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Robert W. Baird increased their price objective on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Vertical Research raised 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. Citigroup decreased their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $163.90.

Insider Activity at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 13,100 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the sale, the insider directly owned 23,657 shares in the company, valued at approximately $4,021,690. The trade was a 35.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were 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 $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. In the last 90 days, insiders have sold 187,775 shares of company stock worth $29,596,059. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors have recently bought and sold shares of TEL. SRS Capital Advisors Inc. lifted its holdings in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after acquiring an additional 107 shares during the period. Costello Asset Management INC acquired a new stake in TE Connectivity during the first quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new stake in TE Connectivity during the first quarter valued at approximately $32,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of TE Connectivity in the 1st quarter valued at approximately $34,000. Finally, Ransom Advisory Ltd acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Price Performance

The company has a 50-day moving average of $159.16 and a 200 day moving average of $149.31. 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 firm has a market cap of $51.42 billion, a P/E ratio of 38.11, a P/E/G ratio of 2.20 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate 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 company earned $1.86 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

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.