Wall Street Zen upgraded shares of TE Connectivity (NYSE:TEL – Free Report) from a hold rating to a buy rating in a research note published on Sunday morning,Wall Street Zen reports.
TEL has been the topic of a number of other reports. Citigroup cut their price objective on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, July 13th. UBS Group increased their target price on shares of TE Connectivity from $241.00 to $253.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Sanford C. Bernstein assumed coverage on shares of TE Connectivity in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on TE Connectivity from $260.00 to $235.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Wells Fargo & Company raised their target price on TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research report on Friday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.07.
View Our Latest Stock Report on TEL
TE Connectivity Stock Up 0.5%
Shares of NYSE:TEL opened at $213.44 on Friday. The stock has a market cap of $61.79 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.25 and a beta of 1.14. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42. TE Connectivity has a 12-month low of $190.27 and a 12-month high of $252.56. The business’s 50 day moving average is $210.13 and its 200 day moving average is $210.45.
TE Connectivity (NYSE:TEL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. TE Connectivity’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that TE Connectivity will post 11.46 earnings per share for the current fiscal year.
TE Connectivity Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s dividend payout ratio (DPR) is presently 30.59%.
Institutional Trading of TE Connectivity
A number of institutional investors have recently added to or reduced their stakes in TEL. JNBA Financial Advisors boosted its position in TE Connectivity by 67.1% during the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock valued at $26,000 after buying an additional 51 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TE Connectivity during the second quarter worth about $34,000. MV Capital Management Inc. purchased a new position in TE Connectivity during the 4th quarter valued at about $41,000. Bayban purchased a new position in TE Connectivity during the 4th quarter valued at about $44,000. Finally, Fortitude Family Office LLC raised its position in TE Connectivity by 43.5% during the 3rd quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.
The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.
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