Citigroup Lowers TE Connectivity (NYSE:TEL) Price Target to $142.00

TE Connectivity (NYSE:TEL) had its price target cut by Citigroup from $165.00 to $142.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

Several other equities analysts have also commented on the stock. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial decreased their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $161.30.

TE Connectivity Stock Performance

NYSE:TEL opened at $130.13 on Monday. 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 simple moving average of $144.46 and a 200 day simple moving average of $146.89. TE Connectivity has a 1-year low of $116.30 and a 1-year high of $159.98. The stock has a market cap of $38.82 billion, a P/E ratio of 20.79, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. Research analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.18%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 45.37%.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

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

TE Connectivity Company Profile

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.