TE Connectivity (NYSE:TEL) Sees Strong Trading Volume

TE Connectivity Ltd. (NYSE:TEL) saw unusually-high trading volume on Wednesday . Approximately 1,444,906 shares were traded during trading, a decline of 33% from the previous session’s volume of 2,142,973 shares.The stock last traded at $141.62 and had previously closed at $143.23.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of TE Connectivity in a report on Monday. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Stifel Nicolaus increased their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, Robert W. Baird increased their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Stock Performance

The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $142.71 and its two-hundred day moving average price is $136.00. The firm has a market capitalization of $43.49 billion, a PE ratio of 13.30, a PEG ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business earned $1.53 earnings per share. TE Connectivity’s revenue was down .3% compared to the same quarter last year. On average, equities analysts expect that TE Connectivity Ltd. will post 7.59 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.86%. TE Connectivity’s dividend payout ratio (DPR) is currently 24.67%.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of TE Connectivity in the 4th quarter valued at $693,985,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after acquiring an additional 111,340 shares in the last quarter. Invesco Ltd. increased its stake in TE Connectivity by 3.5% during the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after buying an additional 154,496 shares during the period. Impax Asset Management Group plc increased its position in shares of TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after purchasing an additional 51,866 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after purchasing an additional 390,723 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.