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

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

A number of other equities research analysts also recently issued reports on TEL. The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 price target on the stock. JPMorgan Chase & Co. increased their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Truist Financial increased their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Finally, Citigroup started coverage on TE Connectivity in a report on Friday, January 5th. They issued a neutral rating and a $146.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, TE Connectivity has an average rating of Moderate Buy and a consensus price target of $153.50.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $140.21 on Thursday. The business’s 50 day moving average price is $142.55 and its two-hundred day moving average price is $136.26. The company has a market cap of $43.58 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.05 and a beta of 1.39. 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 has a twelve month low of $115.00 and a twelve month high of $147.98.

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 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 during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business’s revenue was down 4.6% on a year-over-year basis. On average, analysts predict that TE Connectivity will post 7.55 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently declared 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 is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. TE Connectivity’s payout ratio is currently 21.59%.

Insider Transactions at TE Connectivity

In related 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 completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.

Institutional Trading of TE Connectivity

Several institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its stake in TE Connectivity by 35.9% in the third quarter. IFP Advisors Inc now owns 2,036 shares of the electronics maker’s stock worth $251,000 after buying an additional 538 shares in the last quarter. Founders Financial Securities LLC raised its stake in TE Connectivity by 8.9% in the third quarter. Founders Financial Securities LLC now owns 1,650 shares of the electronics maker’s stock worth $204,000 after buying an additional 135 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in TE Connectivity by 14.2% in the third quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock worth $92,000 after buying an additional 94 shares in the last quarter. Caprock Group LLC raised its stake in TE Connectivity by 2.9% in the third quarter. Caprock Group LLC now owns 5,493 shares of the electronics maker’s stock worth $679,000 after buying an additional 156 shares in the last quarter. Finally, Czech National Bank raised its stake in TE Connectivity by 47.2% in the third quarter. Czech National Bank now owns 54,900 shares of the electronics maker’s stock worth $6,782,000 after buying an additional 17,596 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other 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.