TE Connectivity Ltd. (NYSE:TEL) Receives Average Recommendation of “Moderate Buy” from Brokerages

TE Connectivity Ltd. (NYSE:TEL) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $160.30.

TEL has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday. Truist Financial cut their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird boosted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th.

TE Connectivity Trading Down 0.1%

Shares of NYSE:TEL opened at $162.69 on Wednesday. The company has a market cap of $48.25 billion, a PE ratio of 25.99, a P/E/G ratio of 2.11 and a beta of 1.24. The company’s 50-day moving average price is $142.84 and its 200 day moving average price is $146.80. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $164.11. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. Sell-side analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is 62.42%.

Insider Buying and Selling

In related news, EVP John S. Jenkins sold 20,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $4,010,181.25. The trade was a 45.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Heath A. Mitts sold 53,306 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction 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. The trade was a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock worth $27,062,559 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TE Connectivity

A number of hedge funds and other institutional investors have recently made changes to their positions in TEL. Czech National Bank increased its position in shares of TE Connectivity by 4.8% in the fourth quarter. Czech National Bank now owns 64,865 shares of the electronics maker’s stock worth $9,274,000 after acquiring an additional 2,954 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $1,285,000. Miracle Mile Advisors LLC increased its position in shares of TE Connectivity by 3.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 13,694 shares of the electronics maker’s stock worth $1,958,000 after acquiring an additional 401 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $211,000. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of TE Connectivity by 8.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,767 shares of the electronics maker’s stock worth $682,000 after acquiring an additional 378 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

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.