Jefferies Financial Group Begins Coverage on TE Connectivity (TEL)
Jefferies Financial Group began coverage on shares of TE Connectivity (NYSE:TEL) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $84.00 price objective on the electronics maker’s stock. Jefferies Financial Group also issued estimates for TE Connectivity’s Q1 2019 earnings at $1.28 EPS, Q2 2019 earnings at $1.38 EPS, Q3 2019 earnings at $1.51 EPS, Q4 2019 earnings at $1.47 EPS, FY2019 earnings at $5.64 EPS and FY2020 earnings at $6.23 EPS.
TEL has been the topic of a number of other research reports. Zacks Investment Research raised TE Connectivity from a sell rating to a hold rating in a report on Wednesday, November 28th. Royal Bank of Canada lowered their target price on TE Connectivity to $96.00 and set a positive rating on the stock in a report on Thursday, November 1st. They noted that the move was a valuation call. SunTrust Banks reaffirmed a hold rating and issued a $82.00 target price on shares of TE Connectivity in a report on Wednesday, October 31st. Macquarie initiated coverage on TE Connectivity in a report on Monday, October 8th. They issued an outperform rating on the stock. Finally, ValuEngine lowered TE Connectivity from a hold rating to a sell rating in a report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. TE Connectivity presently has an average rating of Buy and a consensus target price of $105.64.
Shares of NYSE TEL opened at $73.33 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.98 and a debt-to-equity ratio of 0.28. The stock has a market cap of $25.44 billion, a PE ratio of 13.07, a P/E/G ratio of 1.16 and a beta of 1.16. TE Connectivity has a 52 week low of $72.60 and a 52 week high of $108.23.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were given a $0.44 dividend. The ex-dividend date was Wednesday, November 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.40%. TE Connectivity’s dividend payout ratio is currently 31.37%.
Hedge funds have recently made changes to their positions in the business. Proffitt & Goodson Inc. bought a new stake in shares of TE Connectivity in the 3rd quarter worth approximately $106,000. Flagship Harbor Advisors LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $111,000. Fort L.P. bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $115,000. Private Capital Group LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $121,000. Finally, Capital Guardian Trust Co. bought a new stake in shares of TE Connectivity in the 3rd quarter worth approximately $119,000. Institutional investors own 91.74% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the AsiaPacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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