TE Connectivity (NYSE:TEL) Hits New 12-Month High at $99.20

TE Connectivity Ltd (NYSE:TEL)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $99.20 and last traded at $98.79, with a volume of 27029 shares traded. The stock had previously closed at $97.92.

A number of research firms have weighed in on TEL. ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. Citigroup cut shares of TE Connectivity from a “buy” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $95.00 in a research note on Wednesday, October 9th. Royal Bank of Canada began coverage on shares of TE Connectivity in a research note on Tuesday, December 17th. They set an “outperform” rating and a $105.00 price target on the stock. Wells Fargo & Co upgraded shares of TE Connectivity from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $112.00 in a research note on Tuesday. Finally, Wolfe Research assumed coverage on shares of TE Connectivity in a report on Tuesday, October 8th. They set a “market perform” rating and a $91.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $99.18.

The stock’s fifty day moving average is $94.55 and its two-hundred day moving average is $92.77. The company has a current ratio of 1.57, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The firm has a market cap of $32.95 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.27 billion. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. TE Connectivity’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 EPS. On average, analysts forecast that TE Connectivity Ltd will post 5.11 EPS for the current year.

In other news, Director Terrence R. Curtin sold 34,853 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $94.11, for a total value of $3,280,015.83. Following the completion of the sale, the director now owns 164,332 shares of the company’s stock, valued at approximately $15,465,284.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 9,835 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $94.11, for a total transaction of $925,571.85. Following the completion of the sale, the executive vice president now directly owns 45,430 shares of the company’s stock, valued at approximately $4,275,417.30. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of TE Connectivity by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 25,331,319 shares of the electronics maker’s stock worth $2,426,234,000 after acquiring an additional 86,271 shares in the last quarter. BlackRock Inc. increased its stake in TE Connectivity by 4.3% during the 2nd quarter. BlackRock Inc. now owns 16,809,367 shares of the electronics maker’s stock valued at $1,610,001,000 after purchasing an additional 698,506 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in TE Connectivity by 7.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,659,858 shares of the electronics maker’s stock valued at $1,404,121,000 after purchasing an additional 953,793 shares in the last quarter. State Street Corp increased its stake in TE Connectivity by 0.9% during the 3rd quarter. State Street Corp now owns 12,623,826 shares of the electronics maker’s stock valued at $1,176,288,000 after purchasing an additional 118,481 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in TE Connectivity by 75.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,783,817 shares of the electronics maker’s stock valued at $352,576,000 after purchasing an additional 1,622,398 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

TE Connectivity Company Profile (NYSE:TEL)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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