TE Connectivity (NYSE:TEL - Free Report) had its target price hoisted by Bank of America from $168.00 to $190.00 in a report issued on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the electronics maker's stock.
Other equities research analysts have also issued research reports about the company. UBS Group lifted their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. Wall Street Zen lowered TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Robert W. Baird boosted their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $171.70.
View Our Latest Report on TE Connectivity
TE Connectivity Stock Performance
TEL traded up $2.11 during trading on Thursday, reaching $177.14. The company's stock had a trading volume of 1,542,540 shares, compared to its average volume of 1,712,222. TE Connectivity has a 52-week low of $116.30 and a 52-week high of $178.10. The company's fifty day moving average price is $163.83 and its 200-day moving average price is $150.83. The company has a market capitalization of $52.53 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51.
TE Connectivity (NYSE:TEL - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the company earned $1.86 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that TE Connectivity will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 yield of 1.60%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is currently 62.42%.
Insider Transactions at TE Connectivity
In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company's 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 13,100 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $170.00, for a total value of $2,227,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 187,775 shares of company stock worth $29,596,059 in the last quarter. Insiders own 0.90% of the company's stock.
Institutional Investors Weigh In On TE Connectivity
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in TE Connectivity by 17.0% in 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 acquiring an additional 5,502,415 shares during the last quarter. Dodge & Cox raised its holdings in TE Connectivity by 0.4% in 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 last quarter. Wellington Management Group LLP raised its holdings in TE Connectivity by 17.2% in 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 last quarter. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 17.1% in 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 last quarter. Finally, Geode Capital Management LLC raised its holdings in TE Connectivity by 0.6% in 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 last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
About TE Connectivity
(
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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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