Robert W. Baird Trims TE Connectivity (NYSE:TEL) Target Price to $158.00

TE Connectivity (NYSE:TEL) had its price target lowered by Robert W. Baird from $159.00 to $158.00 in a research note issued to investors on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the electronics maker’s stock.

TEL has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. The Goldman Sachs Group reiterated a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Stifel Nicolaus lifted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research note on Thursday, January 25th. StockNews.com started coverage on shares of TE Connectivity in a research note on Monday. They issued a buy rating on the stock. Finally, Citigroup started coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a neutral rating and a $146.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of Moderate Buy and a consensus target price of $153.50.

TE Connectivity Trading Up 0.3 %

TEL opened at $140.44 on Thursday. The firm’s fifty day moving average is $142.59 and its two-hundred day moving average is $136.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $147.98. The firm has a market cap of $43.65 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that TE Connectivity will post 7.59 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is 21.59%.

Insider Buying and Selling

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. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. Mesirow Financial Investment Management Inc. acquired a new position in TE Connectivity in the 1st quarter valued at approximately $23,125,000. Carr Financial Group Corp bought a new stake in shares of TE Connectivity in the 1st quarter valued at $203,000. MONECO Advisors LLC boosted its stake in shares of TE Connectivity by 8.6% in the 1st quarter. MONECO Advisors LLC now owns 1,966 shares of the electronics maker’s stock valued at $286,000 after purchasing an additional 156 shares during the last quarter. Sigma Investment Counselors Inc. bought a new stake in shares of TE Connectivity in the 1st quarter valued at $202,000. Finally, New York State Teachers Retirement System boosted its stake in shares of TE Connectivity by 5.4% in the 1st quarter. New York State Teachers Retirement System now owns 306,307 shares of the electronics maker’s stock valued at $44,488,000 after purchasing an additional 15,792 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.