TE Connectivity Ltd. (TEL) Earns “Buy” Rating from Morgan Stanley
TE Connectivity Ltd. (NYSE:TEL)‘s stock had its “buy” rating restated by analysts at Morgan Stanley in a report issued on Tuesday.
Several other research firms have also recently weighed in on TEL. RBC Capital Markets reiterated an “outperform” rating and set a $65.00 price objective (up from $63.00) on shares of TE Connectivity in a research report on Thursday, July 21st. Royal Bank Of Canada decreased their price objective on shares of TE Connectivity from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $65.00 price objective on shares of TE Connectivity in a research report on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $64.33.
Shares of TE Connectivity (NYSE:TEL) opened at 62.29 on Tuesday. TE Connectivity has a 12 month low of $51.70 and a 12 month high of $67.99. The company has a market capitalization of $22.15 billion, a PE ratio of 9.09 and a beta of 1.39. The firm’s 50-day moving average is $61.49 and its 200 day moving average is $60.44.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.05. TE Connectivity had a net margin of 21.97% and a return on equity of 16.72%. The firm earned $3.12 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts predict that TE Connectivity will post $4.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Wednesday, August 24th. TE Connectivity’s dividend payout ratio (DPR) is presently 21.67%.
In other TE Connectivity news, COO Joseph B. Donahue sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $63.78, for a total value of $637,800.00. Following the completion of the sale, the chief operating officer now directly owns 38,825 shares in the company, valued at $2,476,258.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Lynch sold 123,635 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the completion of the sale, the chief executive officer now owns 507,776 shares of the company’s stock, valued at $31,878,177.28. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.
Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its stake in TE Connectivity by 0.6% in the second quarter. Macquarie Group Ltd. now owns 9,302 shares of the company’s stock worth $531,000 after buying an additional 52 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in TE Connectivity during the second quarter worth approximately $825,000. Kentucky Retirement Systems bought a new stake in TE Connectivity during the second quarter worth approximately $1,737,000. Mason Street Advisors LLC bought a new stake in TE Connectivity during the second quarter worth approximately $2,751,000. Finally, IFP Advisors Inc boosted its stake in TE Connectivity by 16.5% in the second quarter. IFP Advisors Inc now owns 4,665 shares of the company’s stock worth $266,000 after buying an additional 661 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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