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

TE Connectivity (NYSE:TEL) had its price target cut by JPMorgan Chase & Co. from $170.00 to $169.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a buy rating and a $180.00 price objective on the stock. Citigroup assumed coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a neutral rating and a $146.00 price objective on the stock. Stifel Nicolaus increased 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. Finally, Truist Financial increased 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. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $153.50.

TE Connectivity Stock Performance

Shares of TEL opened at $140.44 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45. The stock has a market capitalization of $43.65 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.99 and a beta of 1.39. The company’s fifty day moving average is $142.59 and its two-hundred day moving average is $136.06. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. TE Connectivity’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. On average, sell-side analysts predict that TE Connectivity will post 7.59 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. 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 other news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.86% of the company’s stock.

Institutional Trading of TE Connectivity

A number of institutional investors and hedge funds have recently bought and sold shares of TEL. IFP Advisors Inc increased its position in TE Connectivity by 35.9% during the 3rd quarter. IFP Advisors Inc now owns 2,036 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 538 shares in the last quarter. Founders Financial Securities LLC grew its position 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 valued at $204,000 after acquiring an additional 135 shares in the last quarter. GHP Investment Advisors Inc. grew its position in TE Connectivity by 14.2% in the third quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock valued at $92,000 after acquiring an additional 94 shares in the last quarter. Caprock Group LLC grew its position in TE Connectivity by 2.9% in the third quarter. Caprock Group LLC now owns 5,493 shares of the electronics maker’s stock valued at $679,000 after acquiring an additional 156 shares in the last quarter. Finally, Czech National Bank grew its position in TE Connectivity by 47.2% in the third quarter. Czech National Bank now owns 54,900 shares of the electronics maker’s stock valued at $6,782,000 after acquiring an additional 17,596 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.