TE Connectivity Hits New 12-Month High at $62.29 (TEL)
TE Connectivity (NYSE:TEL)’s share price reached a new 52-week high during trading on Monday , American Banking News.com reports. The stock traded as high as $62.29 and last traded at $62.12, with a volume of 480,316 shares trading hands. The stock had previously closed at $61.70.
A number of research firms have recently commented on TEL. Analysts at Zacks reiterated a “neutral” rating on shares of TE Connectivity in a research note on Friday, May 2nd. They now have a $62.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of TE Connectivity in a research note on Thursday, April 24th. They now have a $73.00 price target on the stock. Finally, analysts at BofA Merrill Lynch upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a research note on Friday, April 11th. They now have a $70.00 price target on the stock, up previously from $60.00. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $68.40.
The stock’s 50-day moving average is $58.97 and its 200-day moving average is $57.11. The company has a market cap of $25.398 billion and a P/E ratio of 17.99.
TE Connectivity (NYSE:TEL) last released its earnings data on Wednesday, April 23rd. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.04. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that TE Connectivity will post $3.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, May 28th.
In other TE Connectivity news, CEO Thomas J. Lynch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $60.90, for a total transaction of $3,806,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
TE Connectivity Ltd. (NYSE:TEL), formerly Tyco Electronics Ltd.
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