Brokerages Set TE Connectivity Ltd. (NYSE:TEL) PT at $159.50

Shares of TE Connectivity Ltd. (NYSE:TEL) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $159.50.

TEL has been the topic of a number of research analyst reports. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Truist Financial reduced their target price on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company lifted their target price on TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Finally, Vertical Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Friday, April 25th.

TE Connectivity Price Performance

NYSE:TEL opened at $164.03 on Wednesday. TE Connectivity has a one year low of $116.30 and a one year high of $164.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market cap of $48.64 billion, a PE ratio of 26.20, a P/E/G ratio of 2.11 and a beta of 1.24. The stock has a 50 day moving average price of $142.01 and a 200 day moving average price of $146.64.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts expect that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.73%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 62.42%.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the transaction, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock valued at $27,062,559 in the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P grew its holdings in TE Connectivity by 3.6% during the 1st quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker’s stock valued at $255,000 after buying an additional 63 shares during the last quarter. Ballentine Partners LLC grew its holdings in TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker’s stock valued at $703,000 after buying an additional 68 shares during the last quarter. Vista Investment Management grew its holdings in TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock valued at $1,891,000 after buying an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in 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. Finally, Modera Wealth Management LLC grew its holdings in TE Connectivity by 2.8% during the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after buying an additional 78 shares during the last quarter. 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.