TE Connectivity Ltd. (NYSE:TEL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of TE Connectivity Ltd. (NYSE:TEL) have been given an average rating of “Hold” by the twelve analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $159.55.

A number of research analysts have recently commented on TEL shares. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. Vertical Research assumed coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its position in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity during the 2nd quarter worth $30,000. Armstrong Advisory Group Inc. grew its position in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Bank & Trust Co bought a new position in TE Connectivity in the second quarter valued at $35,000. Finally, Wolff Wiese Magana LLC raised its position in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

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 50-day moving average of $148.63 and a 200 day moving average 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. The firm has a market cap of $43.96 billion, a P/E ratio of 14.31, a PEG ratio of 2.02 and a beta of 1.33.

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

TE Connectivity Announces Dividend

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

TE Connectivity announced that its board has authorized a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.