TE Connectivity (NYSE:TEL) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

TE Connectivity Ltd. (NYSE:TELGet Free Report)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $178.28 and last traded at $175.56, with a volume of 1656258 shares. The stock had previously closed at $176.18.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $148.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America lifted their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Robert W. Baird lifted their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Truist Financial dropped their price objective on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group boosted their price target on TE Connectivity from $185.00 to $201.00 and gave the company a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.10.

Get Our Latest Stock Analysis on TE Connectivity

TE Connectivity Price Performance

The stock has a market capitalization of $52.99 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The stock has a 50-day simple moving average of $165.93 and a 200 day simple moving average of $151.70.

TE Connectivity (NYSE:TELGet Free Report) last posted 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. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 EPS. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s payout ratio is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer owned 45,503 shares of the company’s stock, valued at $7,244,532.63. This trade represents a 53.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Aaron Kyle Stucki sold 13,100 shares of TE Connectivity stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $170.00, for a total value 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 represents a 35.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock worth $29,596,059 in the last three months. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds have recently modified their holdings of TEL. Brighton Jones LLC bought a new position in shares of TE Connectivity in the 4th quarter valued at about $820,000. Commonwealth Equity Services LLC grew its holdings in TE Connectivity by 6.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,825 shares of the electronics maker’s stock worth $2,691,000 after purchasing an additional 1,078 shares during the period. Sandy Spring Bank grew its holdings in TE Connectivity by 55.4% during the fourth quarter. Sandy Spring Bank now owns 1,007 shares of the electronics maker’s stock worth $144,000 after purchasing an additional 359 shares during the period. Blueshift Asset Management LLC bought a new position in TE Connectivity during the fourth quarter worth about $642,000. Finally, Whittier Trust Co. grew its holdings in TE Connectivity by 979.7% during the fourth quarter. Whittier Trust Co. now owns 9,663 shares of the electronics maker’s stock worth $1,382,000 after purchasing an additional 8,768 shares during the period. Institutional investors own 91.43% of the company’s stock.

About TE Connectivity

(Get Free Report)

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.

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