TE Connectivity Ltd. (NYSE:TEL) Given Consensus Rating of “Hold” by Brokerages

TE Connectivity Ltd. (NYSE:TEL) has been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $167.00.

Several research firms recently commented on TEL. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares during the last quarter. State Street Corp increased its stake in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Wellington Management Group LLP bought a new position in TE Connectivity during the fourth quarter worth about $909,598,000. Geode Capital Management LLC grew its position in shares of TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after purchasing an additional 33,340 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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 in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock opened at $149.04 on Tuesday. The firm has a market capitalization of $44.47 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.11 and a beta of 1.32. 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 has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a fifty day simple moving average of $149.07 and a 200-day simple moving average of $148.35.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 earnings per share. On average, equities analysts anticipate that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm 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 $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.91%. TE Connectivity’s payout ratio is 45.37%.

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.