TE Connectivity Ltd. (NYSE:TEL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of TE Connectivity Ltd. (NYSE:TEL) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $162.50.

Several equities analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Wall Street Zen lowered TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Citigroup decreased their target price on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 37,844 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the transaction, the chief financial officer now owns 45,503 shares in the company, valued at approximately $6,976,974.99. This trade represents a 45.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the transaction, the senior vice president now owns 5,927 shares in the company, valued at $948,320. The trade was a 34.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,675 shares of company stock worth $27,369,059. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. Vanguard Group Inc. increased its stake in shares of TE Connectivity by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock worth $5,353,401,000 after acquiring an additional 5,502,415 shares during the last quarter. Dodge & Cox increased its stake in shares of TE Connectivity by 0.4% in the 1st quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker’s stock worth $2,264,297,000 after acquiring an additional 56,871 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 worth $1,054,133,000 after acquiring an additional 1,097,035 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of TE Connectivity by 17.1% in the 1st quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker’s stock worth $927,571,000 after acquiring an additional 960,276 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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 worth $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.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $162.48 on Friday. The company has a market capitalization of $48.18 billion, a PE ratio of 25.96, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a 50-day simple moving average of $150.32 and a two-hundred day simple moving average of $148.09. TE Connectivity has a one year low of $116.30 and a one year high of $167.94.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts expect that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.75%. TE Connectivity’s payout ratio 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.