TE Connectivity Ltd (NYSE:TEL) Receives Average Recommendation of “Buy” from Brokerages

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TE Connectivity Ltd (NYSE:TEL) has been assigned a consensus rating of “Buy” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $99.07.

TEL has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on TE Connectivity from $89.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Robert W. Baird raised TE Connectivity from a “neutral” rating to an “outperform” rating and raised their price target for the company from $76.00 to $97.00 in a report on Monday, June 1st. Morgan Stanley raised their price target on TE Connectivity from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Citigroup raised their price target on TE Connectivity from $75.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, SunTrust Banks raised their price target on TE Connectivity from $73.00 to $94.00 and gave the company a “hold” rating in a report on Thursday, July 30th.

TE Connectivity stock traded down $2.37 during mid-day trading on Wednesday, reaching $93.96. 1,485,664 shares of the company were exchanged, compared to its average volume of 2,024,191. TE Connectivity has a twelve month low of $48.62 and a twelve month high of $103.20. The firm’s 50-day simple moving average is $96.09 and its two-hundred day simple moving average is $80.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.43. The firm has a market cap of $31.01 billion, a PE ratio of -302.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.38.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 29th. The electronics maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.18. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $1.50 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity will post 3.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, August 20th. This represents a $1.92 annualized dividend and a yield of 2.04%. TE Connectivity’s dividend payout ratio is presently 34.59%.

In related news, SVP Eric Resch sold 53,100 shares of TE Connectivity stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $96.00, for a total transaction of $5,097,600.00. Following the completion of the transaction, the senior vice president now directly owns 67,910 shares of the company’s stock, valued at $6,519,360. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin N. Rock sold 28,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.29, for a total value of $2,612,120.00. Following the transaction, the insider now directly owns 82,473 shares of the company’s stock, valued at approximately $7,693,906.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,270 shares of company stock valued at $11,147,920. 0.80% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Gemmer Asset Management LLC purchased a new position in TE Connectivity during the second quarter worth $26,000. WASHINGTON TRUST Co purchased a new position in TE Connectivity during the first quarter worth $35,000. Balentine LLC purchased a new position in TE Connectivity during the first quarter worth $44,000. AIA Investment Management Private Ltd purchased a new position in TE Connectivity during the first quarter worth $61,000. Finally, CKW Financial Group increased its position in TE Connectivity by 13.6% during the second quarter. CKW Financial Group now owns 1,250 shares of the electronics maker’s stock worth $100,000 after buying an additional 150 shares in the last quarter. 90.30% of the stock is owned by institutional investors.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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