TE Connectivity Ltd. (TEL) Given Average Rating of “Buy” by Brokerages

TE Connectivity Ltd. (NYSE:TEL) has been given an average recommendation of “Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $151.93.

Several research firms have weighed in on TEL. Morgan Stanley lifted their target price on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Stifel Nicolaus lifted their target price on TE Connectivity from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Cross Research raised TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Cowen reissued an “outperform” rating and issued a $110.00 price target (up previously from $95.00) on shares of TE Connectivity in a research note on Thursday, December 7th.

In related news, Chairman Thomas J. Lynch sold 130,617 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $93.34, for a total value of $12,191,790.78. Following the completion of the sale, the chairman now directly owns 266,953 shares in the company, valued at approximately $24,917,393.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Heath A. Mitts sold 10,736 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total value of $999,951.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 759,805 shares of company stock valued at $69,542,539. Corporate insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 384 shares during the last quarter. AllSquare Wealth Management LLC acquired a new stake in TE Connectivity in the 3rd quarter worth approximately $113,000. Acrospire Investment Management LLC acquired a new stake in TE Connectivity in the 2nd quarter worth approximately $126,000. Harfst & Associates Inc. lifted its holdings in shares of TE Connectivity by 46.2% during the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares during the last quarter. Finally, Robecosam AG acquired a new position in shares of TE Connectivity during the third quarter worth approximately $155,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

TE Connectivity (NYSE TEL) traded up $0.32 during trading hours on Thursday, reaching $96.23. The company’s stock had a trading volume of 1,184,500 shares, compared to its average volume of 1,451,949. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. TE Connectivity has a 52 week low of $66.20 and a 52 week high of $97.17. The stock has a market cap of $33,725.52, a PE ratio of 19.86, a PEG ratio of 1.67 and a beta of 1.08.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. sell-side analysts forecast that TE Connectivity will post 5.27 EPS for the current year.

TE Connectivity announced that its board has authorized a stock buyback program on Friday, December 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were issued a $0.40 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $1.60 annualized dividend and a yield of 1.66%. TE Connectivity’s dividend payout ratio (DPR) is currently 33.97%.

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About TE Connectivity

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.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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