TE Connectivity (NYSE:TEL) Stock Crosses Below 200-Day Moving Average – Here’s Why

TE Connectivity Ltd. (NYSE:TEL)’s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $212.66 and traded as low as $206.24. TE Connectivity shares last traded at $206.8390, with a volume of 2,869,960 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEL. Jefferies Financial Group dropped their price objective on TE Connectivity from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Sanford C. Bernstein assumed coverage on TE Connectivity in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price target on the stock. Citigroup increased their price target on shares of TE Connectivity from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a research report on Friday, September 11th. Finally, HSBC reduced their price objective on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.50.

TE Connectivity Trading Up 0.6%

The stock has a market cap of $60.10 billion, a PE ratio of 18.75, a PEG ratio of 1.38 and a beta of 1.15. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $212.17 and a two-hundred day simple moving average of $212.54.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 EPS for the quarter, topping the consensus estimate of $3.07 by $0.07. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. TE Connectivity’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. As a group, equities analysts expect that TE Connectivity Ltd. will post 13.43 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s payout ratio is 28.18%.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in TEL. Bell Investment Advisors Inc boosted its holdings in shares of TE Connectivity by 56.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. JNBA Financial Advisors lifted its position in TE Connectivity by 67.1% in the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after buying an additional 51 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in TE Connectivity by 0.7% in the second quarter. Legacy Wealth Asset Management LLC now owns 7,837 shares of the electronics maker’s stock worth $1,580,000 after buying an additional 52 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in TE Connectivity by 0.8% in the third quarter. First Citizens Bank & Trust Co. now owns 6,577 shares of the electronics maker’s stock worth $1,388,000 after buying an additional 52 shares in the last quarter. Finally, First County Bank CT lifted its holdings in shares of TE Connectivity by 2.4% in the 3rd quarter. First County Bank CT now owns 2,326 shares of the electronics maker’s stock worth $491,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

About TE Connectivity

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems.

The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.