TE Connectivity (NYSE:TEL) Rating Increased to Buy at Vertical Research

Vertical Research upgraded shares of TE Connectivity (NYSE:TEL) from a hold rating to a buy rating in a research note published on Friday, Marketbeat Ratings reports. The firm currently has $170.00 price target on the electronics maker’s stock.

Other equities research analysts have also issued research reports about the company. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company raised their price target on TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research note on Thursday. Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Robert W. Baird increased their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $159.50.

TE Connectivity Stock Up 0.7 %

Shares of TEL opened at $144.58 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $43.14 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The company’s 50-day moving average price is $141.45 and its 200 day moving average price is $146.06. TE Connectivity has a 12-month low of $116.30 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. On average, sell-side analysts forecast that TE Connectivity will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vista Investment Management grew its holdings in shares of TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock worth $1,891,000 after purchasing an additional 70 shares during the period. Silvercrest Asset Management Group LLC grew its stake in shares of TE Connectivity by 2.1% in the fourth 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 in the last quarter. Modera Wealth Management LLC raised its holdings in shares of 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 period. Wedmont Private Capital lifted its position in shares of TE Connectivity by 4.3% during the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 80 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in TE Connectivity by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after buying an additional 83 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

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.