TE Connectivity (NYSE:TEL) Reaches New 12-Month Low – Here’s What Happened

TE Connectivity Ltd. (NYSE:TEL)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $131.34 and last traded at $131.91, with a volume of 756848 shares. The stock had previously closed at $142.29.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Stock Down 8.5 %

The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $38.83 billion, a P/E ratio of 20.79, a PEG ratio of 2.11 and a beta of 1.25. The firm has a 50-day simple moving average of $148.83 and a two-hundred day simple moving average of $148.34.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.18%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is currently 45.37%.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Hedge funds have recently bought and sold shares of the company. Vista Investment Management boosted its position in shares of TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock worth $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock valued at $534,000 after purchasing an additional 75 shares in the last quarter. Modera Wealth Management LLC raised its stake in TE Connectivity by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after acquiring an additional 78 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after purchasing an additional 83 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in shares of TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after purchasing an additional 85 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

About TE Connectivity

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.