TE Connectivity (NYSE:TEL) Sees Strong Trading Volume

TE Connectivity Ltd. (NYSE:TEL) shares saw an uptick in trading volume on Wednesday . 1,444,906 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 2,142,973 shares.The stock last traded at $141.62 and had previously closed at $143.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TEL. Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Monday. They issued a “buy” rating for the company. Robert W. Baird lifted their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Citigroup initiated coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Stock Down 2.3 %

The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm’s 50 day simple moving average is $142.71 and its two-hundred day simple moving average is $136.00. The firm has a market cap of $43.49 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 24.67%.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of TE Connectivity during the 4th quarter valued at $693,985,000. Massachusetts Financial Services Co. MA grew its position in TE Connectivity by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after buying an additional 111,340 shares during the period. Invesco Ltd. grew its position in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after buying an additional 154,496 shares during the period. Impax Asset Management Group plc boosted its position in TE Connectivity by 1.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after purchasing an additional 51,866 shares during the period. Finally, Morgan Stanley boosted its position in TE Connectivity by 11.7% during the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after purchasing an additional 390,723 shares during the period. 91.43% of the stock is owned by institutional investors.

About TE Connectivity

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.