ValuEngine upgraded shares of TE Connectivity (NYSE:TEL) from a hold rating to a buy rating in a research note released on Sunday.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of TE Connectivity from a buy rating to a hold rating in a research report on Tuesday, September 26th. Royal Bank of Canada reiterated a buy rating and set a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Stifel Nicolaus reiterated a buy rating and set a $98.00 price objective on shares of TE Connectivity in a research report on Friday, November 3rd. Cowen reiterated an outperform rating and set a $110.00 price objective (up from $95.00) on shares of TE Connectivity in a research report on Thursday, December 7th. Finally, Wells Fargo & Co initiated coverage on shares of TE Connectivity in a research report on Friday, November 10th. They set an outperform rating and a $105.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $151.93.
TE Connectivity (TEL) traded up $0.45 during midday trading on Friday, hitting $97.38. The company’s stock had a trading volume of 1,399,073 shares, compared to its average volume of 1,672,324. The company has a market capitalization of $34,060.00, a PE ratio of 20.81, a P/E/G ratio of 1.66 and a beta of 1.08. TE Connectivity has a 52 week low of $66.20 and a 52 week high of $97.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. sell-side analysts predict that TE Connectivity will post 5.27 earnings per share for the current year.
TE Connectivity declared that its board has approved a stock repurchase plan on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, November 22nd. TE Connectivity’s dividend payout ratio is currently 34.19%.
In other news, insider Thomas J. Lynch sold 76,184 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $94.74, for a total transaction of $7,217,672.16. Following the transaction, the insider now directly owns 254,689 shares in the company, valued at approximately $24,129,235.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas J. Lynch sold 130,617 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the transaction, the insider now owns 429,500 shares in the company, valued at $39,209,055. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 705,373 shares of company stock worth $65,870,755. 1.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Moors & Cabot Inc. boosted its holdings in TE Connectivity by 0.8% in the second quarter. Moors & Cabot Inc. now owns 2,813 shares of the electronics maker’s stock worth $222,000 after purchasing an additional 21 shares in the last quarter. Pictet North America Advisors SA boosted its holdings in TE Connectivity by 0.6% in the second quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock worth $293,000 after purchasing an additional 24 shares in the last quarter. AMG Funds LLC boosted its holdings in TE Connectivity by 0.3% in the second quarter. AMG Funds LLC now owns 26,142 shares of the electronics maker’s stock worth $2,057,000 after purchasing an additional 67 shares in the last quarter. Veritable L.P. boosted its holdings in TE Connectivity by 1.1% in the second quarter. Veritable L.P. now owns 8,027 shares of the electronics maker’s stock worth $632,000 after purchasing an additional 87 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its holdings in TE Connectivity by 1.9% in the second quarter. Bahl & Gaynor Inc. now owns 6,517 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.
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About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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