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

Shares of TE Connectivity Ltd. (NYSE:TEL) have received a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $156.90.

Several equities research analysts have recently commented on the stock. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Robert W. Baird cut their price target on TE Connectivity from $150.00 to $147.00 and set an “outperform” rating on the stock in a report on Tuesday. The Goldman Sachs Group dropped their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEL. Central Pacific Bank Trust Division acquired a new position in shares of TE Connectivity in the 4th quarter valued at about $2,920,000. Meyer Handelman Co. grew its stake in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. abrdn plc acquired a new position in shares of TE Connectivity in the 4th quarter valued at $15,739,000. Truist Financial Corp increased its holdings in TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after buying an additional 31,991 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its stake in shares of TE Connectivity by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after acquiring an additional 4,913 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 1.8 %

Shares of TEL opened at $129.23 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market capitalization of $38.56 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.11 and a beta of 1.25. The company has a 50-day moving average of $142.92 and a 200 day moving average of $146.36. TE Connectivity has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. On average, research 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. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.20%. TE Connectivity’s dividend payout ratio is currently 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.