TE Connectivity (NYSE:TEL) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of TE Connectivity (NYSE:TEL) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

TEL has been the subject of several other reports. Sanford C. Bernstein assumed coverage on shares of TE Connectivity in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $243.00 target price for the company. The Goldman Sachs Group upped their price target on TE Connectivity from $284.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. reduced their price target on TE Connectivity from $260.00 to $235.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of TE Connectivity in a report on Thursday, October 22nd. Finally, Barclays raised their price objective on TE Connectivity from $300.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $255.50.

TE Connectivity Stock Up 0.6%

NYSE:TEL opened at $207.59 on Friday. TE Connectivity has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The stock has a market capitalization of $60.10 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73. The company’s 50-day simple moving average is $212.17 and its 200-day simple moving average is $212.54.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 EPS. On average, equities analysts anticipate that TE Connectivity will post 13.43 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s dividend payout ratio (DPR) is presently 28.18%.

Institutional Trading of TE Connectivity

A number of institutional investors have recently bought and sold shares of TEL. JNBA Financial Advisors grew its position in TE Connectivity by 67.1% during the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 51 shares during the last quarter. Independence Bank of Kentucky acquired a new position in TE Connectivity during the 3rd quarter valued at approximately $26,000. Center for Financial Planning Inc. raised its holdings in shares of TE Connectivity by 113.6% in the third quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of TE Connectivity by 56.1% in the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker’s stock worth $27,000 after buying an additional 46 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in shares of TE Connectivity during the second quarter worth $34,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

About TE Connectivity

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems.

The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.