TE Connectivity (NYSE:TEL) Downgraded by Longbow Research

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Longbow Research cut shares of TE Connectivity (NYSE:TEL) from a buy rating to a neutral rating in a research report sent to investors on Monday, Benzinga reports. They currently have $90.66 price target on the electronics maker’s stock.

A number of other equities research analysts have also recently weighed in on the stock. HC Wainwright reiterated a sell rating on shares of TE Connectivity in a research report on Friday, May 3rd. Zacks Investment Research upgraded shares of TE Connectivity from a hold rating to a buy rating and set a $107.00 price target for the company in a research report on Monday, April 29th. Finally, ValuEngine upgraded shares of TE Connectivity from a sell rating to a hold rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $93.96.

Shares of TEL stock opened at $93.38 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. TE Connectivity has a 12 month low of $69.84 and a 12 month high of $97.17. The stock has a market cap of $30.47 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.57 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts anticipate that TE Connectivity will post 5.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This is a boost from TE Connectivity’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.97%. TE Connectivity’s dividend payout ratio (DPR) is currently 32.80%.

In related news, insider Kevin N. Rock sold 26,803 shares of TE Connectivity stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $95.04, for a total value of $2,547,357.12. Following the completion of the transaction, the insider now owns 67,361 shares in the company, valued at $6,401,989.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrence R. Curtin sold 128,750 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $94.20, for a total transaction of $12,128,250.00. Following the completion of the transaction, the insider now owns 213,719 shares of the company’s stock, valued at approximately $20,132,329.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,383 shares of company stock valued at $28,368,769. Company insiders own 0.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc increased its stake in TE Connectivity by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 24,999,009 shares of the electronics maker’s stock worth $2,198,164,000 after acquiring an additional 340,661 shares during the period. Advisors Asset Management Inc. increased its stake in TE Connectivity by 72.1% during the 4th quarter. Advisors Asset Management Inc. now owns 10,106 shares of the electronics maker’s stock worth $764,000 after acquiring an additional 4,234 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in TE Connectivity by 6.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,473 shares of the electronics maker’s stock worth $414,000 after acquiring an additional 312 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of TE Connectivity by 7,370.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock valued at $38,000 after purchasing an additional 2,832,263 shares during the last quarter. Finally, Portfolio Solutions LLC bought a new position in shares of TE Connectivity in the 4th quarter valued at $106,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia?Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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