TE Connectivity Ltd. (NYSE:TEL) Receives $156.90 Consensus PT from Brokerages

TE Connectivity Ltd. (NYSE:TEL) has received an average rating of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $156.90.

A number of equities analysts recently weighed in on TEL shares. Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird dropped their price target on TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $169.00 to $146.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th.

TE Connectivity Trading Down 0.2 %

TE Connectivity stock opened at $128.97 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity has a 12-month low of $116.30 and a 12-month high of $159.98. The firm has a market capitalization of $38.48 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.11 and a beta of 1.25. The firm has a 50 day moving average of $142.57 and a 200 day moving average of $146.25.

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

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.20%. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on 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 directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $2,920,000. Meyer Handelman Co. lifted its stake in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the last quarter. abrdn plc bought a new stake in TE Connectivity during the fourth quarter valued at about $15,739,000. Truist Financial Corp grew its stake in TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after purchasing an additional 31,991 shares during the last quarter. Finally, Carnegie Investment Counsel raised its holdings in TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after purchasing an additional 4,913 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.