TE Connectivity (NYSE:TEL) Sees Strong Trading Volume After Strong Earnings

TE Connectivity Ltd. (NYSE:TEL) saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 1,444,906 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 2,142,973 shares.The stock last traded at $141.62 and had previously closed at $143.23.

The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is 21.59%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TEL. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Stifel Nicolaus raised their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. Truist Financial increased their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $153.50.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction on 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 sale, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

Institutional investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC lifted its position in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after buying an additional 91 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth about $30,000. Finally, Godsey & Gibb Inc. increased its position in shares of TE Connectivity by 103.6% during the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.3 %

The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. 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 firm’s fifty day moving average is $142.59 and its 200-day moving average is $136.06.

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.