TE Connectivity (NYSE:TEL) Upgraded at Citigroup

Citigroup upgraded shares of TE Connectivity (NYSE:TEL) from a neutral rating to a buy rating in a research note published on Friday morning, MarketBeat Ratings reports. They currently have $200.00 price objective on the electronics maker’s stock, up from their prior price objective of $150.00.

Other research analysts have also issued reports about the stock. Bank of America lifted their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $156.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Truist Financial dropped 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 note on Thursday, April 24th. Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Friday, April 25th. Finally, UBS Group boosted their price target on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.70.

TE Connectivity Price Performance

TE Connectivity stock opened at $177.14 on Friday. The stock has a market cap of $52.53 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.23. The company has a fifty day simple moving average of $163.83 and a 200-day simple moving average of $150.83. TE Connectivity has a 12-month low of $116.30 and a 12-month high of $178.10. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the company earned $1.86 earnings per share. TE Connectivity’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.60%. TE Connectivity’s payout ratio is currently 62.42%.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the sale, the senior vice president owned 5,927 shares of the company’s stock, valued at $948,320. This represents a 34.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 13,100 shares of the company’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the completion of the sale, the insider directly owned 23,657 shares in the company, valued at $4,021,690. This trade represents a 35.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock valued at $29,596,059 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $28,000. Millstone Evans Group LLC purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $32,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $34,000. Ransom Advisory Ltd purchased a new position in TE Connectivity during the first quarter worth approximately $34,000. Finally, Dagco Inc. purchased a new position in TE Connectivity during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.