JPMorgan Chase & Co. Has Lowered Expectations for TE Connectivity (NYSE:TEL) Stock Price

TE Connectivity (NYSE:TEL) had its price target lowered by JPMorgan Chase & Co. from $169.00 to $146.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the electronics maker’s stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lowered their price target on shares of TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research report on Tuesday. UBS Group dropped their price target on shares of TE Connectivity from $188.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company boosted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $156.90.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $129.23 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $143.31 and a 200 day simple moving average of $146.48. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The company has a market cap of $38.56 billion, a PE ratio of 20.64, a P/E/G ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm earned $1.84 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 45.37%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the period. Wellington Management Group LLP acquired a new position in shares of TE Connectivity in the 4th quarter valued at about $909,598,000. Geode Capital Management LLC boosted its holdings in shares of TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock worth $857,499,000 after purchasing an additional 33,340 shares during the period. Ameriprise Financial Inc. increased its stake in TE Connectivity by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock valued at $801,101,000 after buying an additional 592,072 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after buying an additional 1,702,825 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Company Profile

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.