JPMorgan Chase & Co. Cuts TE Connectivity (NYSE:TEL) Price Target to $169.00

TE Connectivity (NYSE:TEL) had its price objective trimmed by JPMorgan Chase & Co. from $170.00 to $169.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the electronics maker’s stock.

TEL has been the topic of several other research reports. Truist Financial upped their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research note on Thursday, January 25th. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a buy rating and a $180.00 price objective on the stock. Stifel Nicolaus upped 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. Citigroup began coverage on shares of TE Connectivity in a research note on Friday, January 5th. They set a neutral rating and a $146.00 price objective on the stock. Finally, The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $153.50.

TE Connectivity Trading Down 0.2 %

NYSE TEL opened at $140.21 on Thursday. The stock has a market capitalization of $43.58 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.05 and a beta of 1.39. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $147.98. The firm has a 50-day moving average price of $142.55 and a 200 day moving average price of $136.26. The company has a quick ratio of 1.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 earnings per share. Equities research analysts expect that TE Connectivity will post 7.55 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. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s payout ratio is currently 21.59%.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently made changes to their positions in TEL. JFS Wealth Advisors LLC lifted its stake in shares of TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the period. Salem Investment Counselors Inc. lifted its stake in shares of TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after buying an additional 190 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $30,000. Finally, Godsey & Gibb Inc. lifted its stake in shares of TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after buying an additional 114 shares during the period. 91.43% of the stock is 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.