TE Connectivity (NYSE:TEL) Price Target Lowered to $156.00 at Truist Financial

TE Connectivity (NYSE:TEL) had its target price lowered by Truist Financial from $163.00 to $156.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a hold rating on the electronics maker’s stock.

Several other equities research analysts have also commented on TEL. Citigroup cut their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Robert W. Baird raised their target price on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.50.

TE Connectivity Stock Performance

Shares of TEL stock opened at $144.58 on Thursday. The business has a 50-day simple moving average of $141.45 and a 200-day simple moving average of $146.07. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.14 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity has a 52-week low of $116.30 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. On average, equities analysts expect that TE Connectivity will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new stake in TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $44,000. Finally, Global X Japan Co. Ltd. acquired a new position in TE Connectivity in the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.