TE Connectivity Ltd. (NYSE:TEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, May 12th. The firm presently has a $86.00 target price on the electronics maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.26% from the stock’s current price.
According to Zacks, “TE Connectivity reported second-quarter fiscal 2017 adjusted earnings of $1.19 per share, which beat the Zacks Consensus Estimate by 10.2% and was up 32% year over year. The impressive earnings were driven by continued progress on strategic priorities, solid execution and impressive top-line growth. The company expects transportation business to grow in mid-single digits organically, fuelled by growth in global auto production and impressive heavy truck business in key end markets. Going forward, other two segments, namely, Communications and Industrial are expected to stoke growth. Additionally, TE Connectivity’s solid financial health adds to its strength. However, the stock has also underperformed the Zacks categorized Electronics-Miscellaneous Components industry average over the past six months. Sluggish industrial markets and derivative impact of lower oil prices are posing as major headwinds, thwarting growth.”
A number of other brokerages also recently issued reports on TEL. Longbow Research raised TE Connectivity from a “neutral” rating to a “buy” rating in a research note on Thursday, January 12th. Stifel Nicolaus increased their target price on TE Connectivity from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. Cowen and Company began coverage on TE Connectivity in a research note on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price objective for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of TE Connectivity in a research note on Tuesday, March 28th. Finally, Deutsche Bank AG raised their price objective on TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. TE Connectivity has a consensus rating of “Buy” and a consensus target price of $83.29.
Shares of TE Connectivity (TEL) traded down 0.16% during trading on Friday, reaching $78.71. The company’s stock had a trading volume of 1,610,218 shares. TE Connectivity has a 12-month low of $54.54 and a 12-month high of $80.70. The stock has a market capitalization of $27.94 billion, a PE ratio of 13.52 and a beta of 1.04. The firm’s 50-day moving average is $77.27 and its 200-day moving average is $73.91.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Equities analysts expect that TE Connectivity will post $4.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were issued a $0.40 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.37. TE Connectivity’s dividend payout ratio (DPR) is presently 27.54%.
In other TE Connectivity news, insider Thomas J. Lynch sold 131,875 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $73.60, for a total transaction of $9,706,000.00. Following the transaction, the insider now owns 450,662 shares in the company, valued at $33,168,723.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert J. Ott sold 12,400 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $76.79, for a total value of $952,196.00. Following the transaction, the senior vice president now owns 23,271 shares in the company, valued at approximately $1,786,980.09. The disclosure for this sale can be found here. Insiders sold 460,025 shares of company stock worth $35,330,960 in the last quarter. 1.30% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in TEL. Dodge & Cox purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $1,913,073,000. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock valued at $1,699,010,000 after buying an additional 796,516 shares in the last quarter. BlackRock Inc. raised its stake in shares of TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock valued at $1,282,551,000 after buying an additional 16,287,414 shares in the last quarter. State Street Corp raised its stake in shares of TE Connectivity by 3.6% in the first quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock valued at $1,032,534,000 after buying an additional 486,340 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the electronics maker’s stock valued at $768,463,000 after buying an additional 2,348,403 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about TE Connectivity Ltd.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for TE Connectivity Ltd. and related companies.