TE Connectivity (NYSE:TEL) Cut to “Equal Weight” at Fox Advisors

Fox Advisors downgraded shares of TE Connectivity (NYSE:TEL) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports.

Other equities research analysts also recently issued reports about the company. HSBC decreased their price objective on TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Robert W. Baird lifted their target price on shares of TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Sanford C. Bernstein initiated coverage on shares of TE Connectivity in a research report on Wednesday, September 23rd. They issued an “outperform” rating and a $243.00 price target for the company. Wells Fargo & Company upped their price target on shares of TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a research report on Friday, September 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TE Connectivity in a research note on Thursday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.50.

TE Connectivity Stock Up 0.4%

TE Connectivity stock opened at $220.54 on Monday. The company has a market capitalization of $63.85 billion, a P/E ratio of 19.92, a PEG ratio of 1.39 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73. TE Connectivity has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The stock has a 50-day simple moving average of $212.04 and a 200-day simple moving average of $212.84.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. Equities research analysts expect that TE Connectivity will post 13.33 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s dividend payout ratio is currently 28.18%.

Institutional Investors Weigh In On TE Connectivity

Hedge funds have recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in TE Connectivity in the 3rd quarter valued at approximately $26,000. Center for Financial Planning Inc. grew its holdings in TE Connectivity by 113.6% during the 3rd quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock valued at $27,000 after buying an additional 67 shares during the last quarter. JNBA Financial Advisors increased its position in TE Connectivity by 67.1% during the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after buying an additional 51 shares in the last quarter. Bell Investment Advisors Inc increased its position in TE Connectivity by 56.1% during the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker’s stock worth $27,000 after buying an additional 46 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new position in TE Connectivity during the second quarter worth $34,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.