TE Connectivity Ltd. (TEL) Earns “Buy” Rating from Morgan Stanley
TE Connectivity Ltd. (NYSE:TEL)‘s stock had its “buy” rating reissued by equities researchers at Morgan Stanley in a research report issued to clients and investors on Tuesday.
A number of other analysts have also recently weighed in on the stock. RBC Capital Markets restated an “outperform” rating and issued a $65.00 price objective (up from $63.00) on shares of TE Connectivity in a research note on Thursday, July 21st. Royal Bank Of Canada reduced their price objective on shares of TE Connectivity from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Finally, Deutsche Bank AG restated a “hold” rating and issued a $65.00 price objective on shares of TE Connectivity in a research note on Wednesday, June 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $64.33.
TE Connectivity (NYSE:TEL) opened at 62.65 on Tuesday. TE Connectivity has a 52-week low of $51.70 and a 52-week high of $67.99. The company has a market capitalization of $22.28 billion, a P/E ratio of 9.15 and a beta of 1.39. The stock has a 50 day moving average of $61.49 and a 200-day moving average of $60.44.
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TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.05. TE Connectivity had a net margin of 21.97% and a return on equity of 16.72%. The business earned $3.12 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company earned $0.90 earnings per share. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity will post $4.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Wednesday, August 24th. TE Connectivity’s dividend payout ratio (DPR) is currently 21.67%.
In related news, EVP Robert N. Shaddock sold 11,800 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $61.25, for a total transaction of $722,750.00. Following the transaction, the executive vice president now owns 46,274 shares of the company’s stock, valued at $2,834,282.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Lynch sold 123,635 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the transaction, the chief executive officer now directly owns 507,776 shares in the company, valued at approximately $31,878,177.28. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Boston Partners raised its stake in shares of TE Connectivity by 161.8% in the second quarter. Boston Partners now owns 8,963,462 shares of the company’s stock valued at $511,903,000 after buying an additional 5,539,080 shares during the period. JPMorgan Chase & Co. raised its stake in shares of TE Connectivity by 15.3% in the first quarter. JPMorgan Chase & Co. now owns 14,767,480 shares of the company’s stock valued at $914,402,000 after buying an additional 1,959,504 shares during the period. River Road Asset Management LLC acquired a new stake in shares of TE Connectivity during the second quarter valued at about $48,729,000. Alliancebernstein L.P. raised its stake in shares of TE Connectivity by 132.0% in the second quarter. Alliancebernstein L.P. now owns 1,109,587 shares of the company’s stock valued at $63,369,000 after buying an additional 631,412 shares during the period. Finally, Raymond James & Associates raised its stake in shares of TE Connectivity by 57.7% in the second quarter. Raymond James & Associates now owns 1,304,428 shares of the company’s stock valued at $74,496,000 after buying an additional 477,278 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Company Profile
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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