Cross Research upgraded shares of TE Connectivity (NYSE:TEL) from a hold rating to a buy rating in a research note published on Friday, December 8th, The Fly reports.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered TE Connectivity from a buy rating to a hold rating in a research note on Tuesday, September 26th. Royal Bank of Canada restated a buy rating and set a $95.00 target price (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Stifel Nicolaus restated a buy rating and set a $98.00 target price on shares of TE Connectivity in a research report on Friday, November 3rd. Wells Fargo & Co assumed coverage on TE Connectivity in a report on Friday, November 10th. They issued an outperform rating and a $105.00 price objective on the stock. Finally, Cowen reiterated an outperform rating and issued a $110.00 price objective (up from $95.00) on shares of TE Connectivity in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $151.93.
Shares of TE Connectivity (TEL) traded up $0.28 during mid-day trading on Friday, reaching $95.32. The company had a trading volume of 1,805,738 shares, compared to its average volume of 1,630,000. The stock has a market cap of $33,520.00, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. TE Connectivity has a one year low of $66.20 and a one year high of $97.17.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. equities analysts predict that TE Connectivity will post 5.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Wednesday, November 22nd. TE Connectivity’s payout ratio is 34.19%.
TE Connectivity announced that its Board of Directors has initiated a share repurchase plan on Friday, December 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other TE Connectivity news, insider Thomas J. Lynch sold 130,617 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total value of $11,924,025.93. Following the completion of the transaction, the insider now owns 429,500 shares in the company, valued at $39,209,055. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 52,650 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $94.32, for a total transaction of $4,965,948.00. Following the completion of the transaction, the insider now owns 136,336 shares of the company’s stock, valued at approximately $12,859,211.52. The disclosure for this sale can be found here. In the last three months, insiders sold 629,189 shares of company stock worth $58,653,083. 1.49% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of TE Connectivity by 2.3% during the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after purchasing an additional 521,884 shares in the last quarter. Boston Partners grew its stake in shares of TE Connectivity by 8.1% during the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after purchasing an additional 934,796 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of TE Connectivity by 17.7% during the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after purchasing an additional 1,239,920 shares in the last quarter. FMR LLC boosted its stake in TE Connectivity by 9.7% in the second quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock valued at $420,131,000 after acquiring an additional 472,037 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in TE Connectivity by 9.4% in the second quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock valued at $315,955,000 after acquiring an additional 346,093 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.
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About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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