TE Connectivity Ltd. (NYSE:TEL) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the company. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $64.33.
TEL has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of TE Connectivity from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. RBC Capital Markets reaffirmed an “outperform” rating and set a $65.00 price target (up previously from $63.00) on shares of TE Connectivity in a research note on Thursday, July 21st. Zacks Investment Research downgraded shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Monday, September 26th. Morgan Stanley reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Tuesday, September 20th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $65.00 price target on shares of TE Connectivity in a research note on Wednesday, June 15th.
In other TE Connectivity news, CEO Thomas J. Lynch sold 123,635 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the completion of the transaction, the chief executive officer now directly owns 507,776 shares of the company’s stock, valued at approximately $31,878,177.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph B. Donahue sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $63.78, for a total transaction of $637,800.00. Following the transaction, the chief operating officer now directly owns 38,825 shares of the company’s stock, valued at $2,476,258.50. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners raised its position in TE Connectivity by 161.8% in the second quarter. Boston Partners now owns 8,963,462 shares of the company’s stock valued at $511,903,000 after buying an additional 5,539,080 shares during the period. JPMorgan Chase & Co. raised its position in TE Connectivity by 15.3% in the first quarter. JPMorgan Chase & Co. now owns 14,767,480 shares of the company’s stock valued at $914,402,000 after buying an additional 1,959,504 shares during the period. River Road Asset Management LLC acquired a new position in TE Connectivity during the second quarter valued at approximately $48,729,000. Alliancebernstein L.P. raised its position in TE Connectivity by 132.0% in the second quarter. Alliancebernstein L.P. now owns 1,109,587 shares of the company’s stock valued at $63,369,000 after buying an additional 631,412 shares during the period. Finally, Raymond James & Associates raised its position in TE Connectivity by 57.7% in the second quarter. Raymond James & Associates now owns 1,304,428 shares of the company’s stock valued at $74,496,000 after buying an additional 477,278 shares during the period. 91.55% of the stock is owned by institutional investors and hedge funds.
Shares of TE Connectivity (NYSE:TEL) opened at 64.79 on Tuesday. The stock has a market capitalization of $23.04 billion, a PE ratio of 9.46 and a beta of 1.41. TE Connectivity has a one year low of $51.70 and a one year high of $67.99. The stock has a 50 day moving average of $63.11 and a 200-day moving average of $60.81.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.05. TE Connectivity had a net margin of 21.97% and a return on equity of 16.72%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts predict that TE Connectivity will post $4.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, August 24th. TE Connectivity’s dividend payout ratio is currently 21.67%.
About TE Connectivity
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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