TE Connectivity (TEL) Sets New 52-Week Low at $72.60

TE Connectivity Ltd (NYSE:TEL)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $72.60 and last traded at $74.80, with a volume of 169316 shares. The stock had previously closed at $74.17.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Jefferies Financial Group started coverage on shares of TE Connectivity in a report on Tuesday. They issued a “hold” rating and a $84.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of TE Connectivity to $96.00 and set a “positive” rating on the stock in a report on Thursday, November 1st. They noted that the move was a valuation call. SunTrust Banks reaffirmed a “hold” rating and issued a $82.00 target price on shares of TE Connectivity in a report on Wednesday, October 31st. Finally, Macquarie started coverage on shares of TE Connectivity in a report on Monday, October 8th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. TE Connectivity presently has an average rating of “Buy” and an average price target of $105.64.

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.41. The firm has a market cap of $25.97 billion, a PE ratio of 13.07, a PEG ratio of 1.18 and a beta of 1.16.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.65 billion. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. TE Connectivity’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, equities analysts predict that TE Connectivity Ltd will post 5.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 23rd were issued a $0.44 dividend. The ex-dividend date was Wednesday, November 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.40%. TE Connectivity’s payout ratio is 31.37%.

A number of institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TE Connectivity by 0.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,091 shares of the electronics maker’s stock valued at $12,797,000 after acquiring an additional 619 shares during the period. HPM Partners LLC raised its holdings in TE Connectivity by 11.6% in the 3rd quarter. HPM Partners LLC now owns 6,358 shares of the electronics maker’s stock valued at $559,000 after acquiring an additional 661 shares during the period. Capital Bank & Trust Co raised its holdings in TE Connectivity by 77.2% in the 3rd quarter. Capital Bank & Trust Co now owns 1,602 shares of the electronics maker’s stock valued at $141,000 after acquiring an additional 698 shares during the period. Commonwealth Bank of Australia raised its holdings in TE Connectivity by 2.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 40,187 shares of the electronics maker’s stock valued at $3,614,000 after acquiring an additional 879 shares during the period. Finally, Great Lakes Advisors LLC raised its holdings in TE Connectivity by 13.1% in the 3rd quarter. Great Lakes Advisors LLC now owns 7,628 shares of the electronics maker’s stock valued at $671,000 after acquiring an additional 884 shares during the period. 91.74% of the stock is currently owned by hedge funds and other institutional investors.

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About TE Connectivity (NYSE:TEL)

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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