TE Connectivity (NYSE:TEL) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Shares of TE Connectivity Ltd. (NYSE:TEL) saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 1,444,906 shares traded hands during 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.

The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. TE Connectivity’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share.

TE Connectivity Dividend Announcement

The business 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. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.85%. TE Connectivity’s payout ratio is currently 21.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TEL shares. Robert W. Baird decreased their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com began coverage on TE Connectivity in a research report on Monday. They set a “buy” rating on the stock. Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 price target for the company. Stifel Nicolaus increased their price objective 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. Finally, Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.50.

Insider Buying and Selling

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

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds have recently made changes to their positions in the stock. Lee Danner & Bass Inc. grew its position in TE Connectivity by 2.5% during the fourth quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock valued at $433,000 after acquiring an additional 74 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 75 shares during the period. Argonautica Private Wealth Management Inc. increased its position in TE Connectivity by 3.2% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock worth $348,000 after purchasing an additional 78 shares in the last quarter. Perpetual Ltd increased its position in TE Connectivity by 4.1% during the 1st quarter. Perpetual Ltd now owns 1,990 shares of the electronics maker’s stock worth $289,000 after purchasing an additional 78 shares in the last quarter. Finally, Vista Investment Management raised its holdings in TE Connectivity by 0.7% in the third quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock valued at $1,479,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16. The business’s 50-day simple moving average is $142.59 and its two-hundred day simple moving average is $136.06. The stock has a market capitalization of $43.65 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.99 and a beta of 1.39.

TE Connectivity Company Profile

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.