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

TE Connectivity Ltd. (NYSE:TEL) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $159.55.

TEL has been the subject of several recent research reports. The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a report on Thursday, October 31st. Finally, Robert W. Baird upped their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th.

TE Connectivity Trading Down 1.0 %

Shares of TEL opened at $146.95 on Wednesday. TE Connectivity has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The firm has a market cap of $43.96 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.02 and a beta of 1.33. The firm has a 50 day moving average price of $148.63 and a 200-day moving average price of $149.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. As a group, equities research analysts forecast that TE Connectivity will post 8.13 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

TE Connectivity Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 25th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 1.75%. TE Connectivity’s payout ratio is 25.32%.

Institutional Trading of TE Connectivity

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. State Street Corp lifted its stake in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after buying an additional 1,304,199 shares during the last quarter. Geode Capital Management LLC increased its position in shares of TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after acquiring an additional 75,658 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

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.