TE Connectivity (NYSE:TEL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

TE Connectivity (NYSE:TEL - Free Report) had its target price raised by Wells Fargo & Company from $156.00 to $170.00 in a research note released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the electronics maker's stock.

A number of other equities analysts also recently weighed in on TEL. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Truist Financial dropped their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded TE Connectivity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $163.90.

TE Connectivity Price Performance

Shares of NYSE TEL traded up $3.12 during mid-day trading on Tuesday, hitting $173.39. 1,563,019 shares of the stock were exchanged, compared to its average volume of 1,715,090. TE Connectivity has a twelve month low of $116.30 and a twelve month high of $174.72. The stock's fifty day simple moving average is $159.16 and its two-hundred day simple moving average is $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 company has a market cap of $51.42 billion, a P/E ratio of 38.11, a PEG ratio of 2.23 and a beta of 1.23.

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 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 firm had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period last year, the firm posted $1.86 EPS. The business's revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that TE Connectivity will post 8.05 EPS 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. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction 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 directly owned 25,976 shares of the company's stock, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president directly owned 5,927 shares of the company's stock, valued at $948,320. This trade represents a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock worth $29,596,059 over the last quarter. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $820,000. New York State Common Retirement Fund raised its holdings in shares of TE Connectivity by 48.8% during the fourth quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock worth $160,000 after acquiring an additional 368 shares during the period. Oppenheimer & Co. Inc. lifted its position in TE Connectivity by 16.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 4,889 shares of the electronics maker's stock valued at $699,000 after acquiring an additional 698 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in TE Connectivity in the 4th quarter worth $5,171,000. Finally, Mutual of America Capital Management LLC bought a new position in TE Connectivity during the 4th quarter worth about $5,123,000. 91.43% of the stock is owned by institutional investors and hedge funds.

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.