TE Connectivity (NYSE:TEL) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

TE Connectivity Ltd. (NYSE:TEL) shares saw an uptick in trading volume on Wednesday following a stronger than expected earnings report. 1,444,906 shares changed hands during 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 net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the business earned $1.65 EPS. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird reduced their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Stifel Nicolaus increased their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has a consensus 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 completion of the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

TE Connectivity Price Performance

The firm has a market cap of $43.65 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. 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 company’s 50-day moving average is $142.59 and its 200-day moving average is $136.06.

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.