TE Connectivity (NYSE:TEL) Sets New 12-Month Low – Should You Sell?

TE Connectivity Ltd. (NYSE:TEL) shares reached a new 52-week low on Thursday . The company traded as low as $131.34 and last traded at $131.91, with a volume of 756848 shares. The stock had previously closed at $142.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TEL. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Truist Financial lowered their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TE Connectivity has an average rating of “Hold” and an average price target of $167.00.

TE Connectivity Trading Down 6.2 %

The business has a 50 day simple moving average of $147.64 and a 200 day simple moving average of $148.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TE Connectivity

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in TE Connectivity in the fourth quarter worth $909,598,000. Vanguard Group Inc. grew its stake in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Norges Bank bought a new stake in shares of TE Connectivity in the fourth quarter worth about $508,199,000. Clearbridge Investments LLC raised its position in shares of TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the period. Finally, Amundi acquired a new stake in shares of TE Connectivity during the fourth quarter worth about $159,992,000. Institutional investors 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.