TE Connectivity Ltd. (NYSE:TEL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

TE Connectivity Ltd. (NYSE:TEL) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $159.50.

TEL has been the subject of several analyst reports. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Friday, April 25th. Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Citigroup dropped their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Truist Financial dropped their price objective on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird upped their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th.

Insider Buying and Selling at TE Connectivity

In other news, EVP John S. Jenkins sold 30,000 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heath A. Mitts sold 53,306 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the sale, the chief financial officer now owns 45,503 shares in the company, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,275 shares of company stock valued at $23,740,419. Insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in TE Connectivity by 17.0% during the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock worth $5,353,401,000 after buying an additional 5,502,415 shares during the period. Wellington Management Group LLP purchased a new position in TE Connectivity during the fourth quarter worth about $909,598,000. Geode Capital Management LLC lifted its position in TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock worth $857,499,000 after buying an additional 33,340 shares during the period. Ameriprise Financial Inc. lifted its position in TE Connectivity by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock worth $801,101,000 after buying an additional 592,072 shares during the period. Finally, Clearbridge Investments LLC lifted its position in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after buying an additional 1,702,825 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $162.47 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity has a twelve month low of $116.30 and a twelve month high of $163.39. The stock has a 50 day moving average of $141.11 and a two-hundred day moving average of $146.37. The stock has a market cap of $48.18 billion, a P/E ratio of 25.95, a P/E/G ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping 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 business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts forecast that TE Connectivity will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.75%. TE Connectivity’s dividend payout ratio is 62.42%.

About TE Connectivity

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.