TE Connectivity Ltd. (NYSE:TEL) Stock Has Average Price Target of $258.07 According to Brokerages

TE Connectivity Ltd. (NYSE:TEL) has received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $258.07.

A number of equities research analysts recently issued reports on TEL shares. UBS Group increased their target price on shares of TE Connectivity from $241.00 to $253.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Citigroup lowered their price objective on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Sanford C. Bernstein assumed coverage on TE Connectivity in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $243.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of TE Connectivity from $260.00 to $235.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, October 18th.

Institutional Trading of TE Connectivity

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of TE Connectivity by 48.2% in the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after buying an additional 2,507,569 shares during the last quarter. Hsbc Holdings PLC grew its stake in TE Connectivity by 385.0% in the 1st quarter. Hsbc Holdings PLC now owns 1,115,692 shares of the electronics maker’s stock valued at $232,677,000 after buying an additional 885,658 shares during the last quarter. State Street Corp increased its stake in shares of TE Connectivity by 5.7% during the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after purchasing an additional 730,084 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of TE Connectivity by 415.4% during the second quarter. Alyeska Investment Group L.P. now owns 849,218 shares of the electronics maker’s stock worth $171,211,000 after buying an additional 684,463 shares in the last quarter. Finally, Amundi raised its stake in TE Connectivity by 37.2% in the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock worth $471,733,000 after purchasing an additional 612,180 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE TEL opened at $207.84 on Wednesday. The stock has a market cap of $60.17 billion, a P/E ratio of 20.38, a PEG ratio of 1.23 and a beta of 1.14. The company’s 50-day simple moving average is $209.83 and its 200 day simple moving average is $210.46. TE Connectivity has a twelve month low of $190.27 and a twelve month high of $252.56. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the business posted $2.27 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts forecast that TE Connectivity will post 11.46 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. TE Connectivity’s payout ratio is 30.59%.

About TE Connectivity

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.