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

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

A number of other equities research analysts have also recently weighed in on TEL. StockNews.com assumed coverage on TE Connectivity in a research note on Monday. They issued a buy rating for the company. Citigroup started coverage on TE Connectivity in a research report on Friday, January 5th. They set a neutral rating and a $146.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a buy rating and a $180.00 target price for the company. Finally, The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has an average rating of Moderate Buy and an average target price of $153.50.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $140.44 on Thursday. TE Connectivity has a one year low of $115.00 and a one year high of $147.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45. The company has a market cap of $43.65 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.99 and a beta of 1.39. The business’s 50 day moving average price is $142.59 and its 200 day moving average price is $136.06.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, research analysts predict that TE Connectivity will post 7.59 EPS for the current year.

TE Connectivity Announces Dividend

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

Insiders Place Their Bets

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 stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of TE Connectivity during the 4th quarter worth $693,985,000. Qube Research & Technologies Ltd purchased a new position in shares of TE Connectivity during the 3rd quarter worth $165,640,000. First Trust Advisors LP lifted its stake in shares of TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of TE Connectivity by 1,000.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after purchasing an additional 1,214,122 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.