TE Connectivity Ltd. (NYSE:TEL) has received an average recommendation of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $135.67.
Several research analysts recently commented on TEL shares. Wells Fargo boosted their price objective on shares of TE Connectivity from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Monday, January 15th. SunTrust Banks restated a “hold” rating and issued a $102.00 price target on shares of TE Connectivity in a research report on Thursday, January 25th. Morgan Stanley raised their price target on TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Finally, ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.
In other TE Connectivity news, SVP Robert J. Ott sold 10,700 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $105.14, for a total value of $1,124,998.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas J. Lynch sold 76,183 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $101.48, for a total value of $7,731,050.84. Following the completion of the sale, the insider now owns 254,715 shares in the company, valued at approximately $25,848,478.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 352,750 shares of company stock worth $36,475,611. Insiders own 0.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TEL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in TE Connectivity by 9.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,740 shares of the electronics maker’s stock worth $2,387,000 after buying an additional 2,364 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of TE Connectivity by 23.8% in the third quarter. Schroder Investment Management Group now owns 3,259 shares of the electronics maker’s stock worth $269,000 after acquiring an additional 626 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in shares of TE Connectivity by 3.7% in the third quarter. Commonwealth Bank of Australia now owns 46,651 shares of the electronics maker’s stock worth $3,867,000 after acquiring an additional 1,646 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of TE Connectivity by 1.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,134,453 shares of the electronics maker’s stock worth $94,228,000 after acquiring an additional 20,606 shares in the last quarter. Finally, Tiedemann Wealth Management LLC acquired a new position in shares of TE Connectivity in the third quarter worth about $225,000. Institutional investors and hedge funds own 91.76% of the company’s stock.
Shares of TEL stock traded up $0.01 during trading hours on Friday, reaching $98.35. The stock had a trading volume of 472,980 shares, compared to its average volume of 1,739,945. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. TE Connectivity has a 12 month low of $71.93 and a 12 month high of $108.23. The firm has a market capitalization of $34,523.59, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $1.15 earnings per share. TE Connectivity’s revenue was up 13.6% compared to the same quarter last year. sell-side analysts predict that TE Connectivity will post 5.49 EPS for the current year.
TE Connectivity announced that its board has authorized a share repurchase program on Friday, December 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.63%. TE Connectivity’s payout ratio is 33.13%.
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About TE Connectivity
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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