TE Connectivity (NYSE:TEL) Price Target Lowered to $156.00 at Truist Financial

TE Connectivity (NYSE:TEL) had its price target cut by Truist Financial from $163.00 to $156.00 in a report published on Thursday morning,Benzinga reports. They currently have a hold rating on the electronics maker’s stock.

TEL has been the topic of a number of other research reports. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Citigroup decreased their price target on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group reissued a “buy” rating and issued a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research report on Thursday. Finally, The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.00.

TE Connectivity Trading Up 5.4 %

TE Connectivity stock opened at $143.46 on Thursday. The stock has a market cap of $42.80 billion, a PE ratio of 22.92, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $141.65 and a 200 day moving average price of $146.09. TE Connectivity has a 52 week low of $116.30 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. Equities research analysts predict that TE Connectivity will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently made changes to their positions in TEL. Vista Investment Management increased its stake in TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock valued at $1,891,000 after purchasing an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock valued at $534,000 after buying an additional 75 shares during the last quarter. Modera Wealth Management LLC raised its stake in TE Connectivity by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after acquiring an additional 78 shares during the period. Wedmont Private Capital lifted its holdings in TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after acquiring an additional 80 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after acquiring an additional 83 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

About TE Connectivity

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.