TE Connectivity (NYSE:TEL) Hits New 1-Year Low – Here’s Why

TE Connectivity Ltd. (NYSE:TEL) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $131.34 and last traded at $131.91, with a volume of 756848 shares trading hands. The stock had previously closed at $142.29.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Truist Financial decreased their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Down 8.5 %

The company has a market capitalization of $38.83 billion, a P/E ratio of 20.79, a PEG ratio of 2.11 and a beta of 1.25. The business has a 50 day moving average price of $148.83 and a 200 day moving average price of $148.34. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $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 the SEC website. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth $44,000. Finally, Hilltop National Bank acquired a new position in TE Connectivity during the fourth quarter worth $55,000. 91.43% of the stock is owned by institutional investors and hedge funds.

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.