TE Connectivity Ltd (TEL) Receives Consensus Recommendation of “Buy” from Brokerages

TE Connectivity Ltd (NYSE:TEL) has earned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $137.09.

A number of equities analysts recently issued reports on TEL shares. Wells Fargo & Co raised their target price on TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Monday, January 15th. Royal Bank of Canada restated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Stifel Nicolaus restated a “buy” rating and issued a $98.00 target price on shares of TE Connectivity in a research note on Friday, November 3rd. Finally, Morgan Stanley raised their target price on TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th.

In other news, SVP Eric Resch sold 48,950 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $93.75, for a total transaction of $4,589,062.50. Following the sale, the senior vice president now directly owns 78,129 shares in the company, valued at approximately $7,324,593.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Thomas J. Lynch sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $93.05, for a total value of $5,583,000.00. Following the sale, the chairman now owns 167,336 shares in the company, valued at $15,570,614.80. The disclosure for this sale can be found here. Insiders have sold a total of 764,702 shares of company stock worth $74,389,656 over the last ninety days. 0.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Boston Partners grew its position in shares of TE Connectivity by 2.6% during the 4th quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock valued at $1,211,419,000 after acquiring an additional 318,066 shares during the period. Janus Henderson Group PLC grew its position in shares of TE Connectivity by 17.7% during the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock valued at $685,033,000 after acquiring an additional 1,239,920 shares during the period. Wells Fargo & Company MN grew its position in shares of TE Connectivity by 8.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after acquiring an additional 313,244 shares during the period. Legal & General Group Plc grew its position in shares of TE Connectivity by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 1,905,176 shares of the electronics maker’s stock valued at $158,242,000 after acquiring an additional 57,732 shares during the period. Finally, HL Financial Services LLC grew its position in shares of TE Connectivity by 0.5% during the 3rd quarter. HL Financial Services LLC now owns 1,474,877 shares of the electronics maker’s stock valued at $122,503,000 after acquiring an additional 7,729 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Shares of TE Connectivity (NYSE:TEL) traded up $0.22 on Friday, hitting $95.49. The stock had a trading volume of 2,234,952 shares, compared to its average volume of 2,101,777. TE Connectivity has a 12-month low of $71.93 and a 12-month high of $108.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.58. The stock has a market cap of $34,983.67, a price-to-earnings ratio of 27.54, a PEG ratio of 1.67 and a beta of 1.11.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS. research analysts forecast that TE Connectivity will post 5.48 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, February 22nd. TE Connectivity’s dividend payout ratio is currently 46.24%.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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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.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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