TE Connectivity (NYSE:TEL) Announces Earnings Results

TE Connectivity (NYSE:TEL) released its quarterly earnings results on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03, Briefing.com reports. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Trading Down 0.8 %

TEL traded down $1.17 during mid-day trading on Thursday, reaching $138.83. The stock had a trading volume of 987,098 shares, compared to its average volume of 2,186,095. The stock has a market capitalization of $43.15 billion, a P/E ratio of 13.18, a P/E/G ratio of 2.04 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 company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The firm’s fifty day simple moving average is $142.65 and its two-hundred day simple moving average is $136.02.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 22.39%.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction that occurred 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 in the company, valued at $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

TEL has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. boosted their price objective on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Truist Financial lifted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. StockNews.com began coverage on shares of TE Connectivity in a research note on Monday. They issued a “buy” rating for the company. Finally, Robert W. Baird reduced their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.60.

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.