The Vanguard Group, Inc. recently announced the acquisition of new stake in TE Connectivity Ltd. (NYSE:TEL). The institutional investor has increased its shareholding in the Technology company by 0.51% to 26.88 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 8.49% valued currently at $3.42 billion. In addition, Capital Research & Management Co raised its holdings by 3.85 million to 22.7 million shares. And BlackRock Fund Advisors has lifted its position by 1.16% or 0.12 million shares – to 10.67 million shares.
With over 2.14 million TE Connectivity Ltd. (TEL) shares trading Monday and a closing price of $124.02 on the day, the dollar volume was approximately $265.54 million. The shares have shown a negative half year performance of -3.89% and its price on 03/13/23 lost nearly -0.41%. Currently, there are 317.00M common shares owned by the public and among those 315.82M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for TEL have a consensus price objective of $137.31. The analysts have set the share’s price value over the next 12 months at a high of $160.00 and a low of $115.00. The average price target is 9.26% above its recent price level and a downside to the estimated low will see the stock lose -7.84% over that period. But an upside of 22.49% will see the stock hit the forecast high price target while median target price for the stock is $132.00.
Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 386,813 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 354,187 shares.
The top 3 mutual fund holders in TE Connectivity Ltd. are Vanguard Total Stock Market Index, Dodge & Cox Stock Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 9.72 million shares of the company’s stock, all valued at over $1.24 billion. The company bought an additional 65318.0 shares recently to bring their total holdings to about 3.07% of the shares outstanding. Dodge & Cox Stock Fund sold -0.4 million shares to see its total holdings shrink to 8.16 million shares valued at over $1.04 billion and representing 2.58% of the shares outstanding. Vanguard 500 Index Fund bought 17444.0 shares to bring its total holdings to over 7.37 million shares at a value of $938.32 million. Vanguard 500 Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of TE Connectivity Ltd. (NYSE: TEL) opened at $122.86, down -$1.67 from a prior closing price of $124.53. However, the script later moved the day high at 125.21, down -0.41%. The company’s stock has a 5-day price change of -5.05% and 1.55% over the past three months. TEL shares are trading 8.03% year to date (YTD), with the 12-month market performance down to -4.81% lower. It has a 12-month low price of $104.76 and touched a high of $138.24 over the same period. TEL has an average intraday trading volume of 1.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.92%, -1.66%, and 0.88% respectively.
Institutional ownership of TE Connectivity Ltd. (NYSE: TEL) shares accounts for 95.50% of the company’s 317.00M shares outstanding. Mutual fund holders own 32.60%, while other institutional holders and individual stakeholders account for 62.38% and 0.47% respectively.
It has a market capitalization of $40.36B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 17.72, while the earnings-per-share (ttm) stands at $7.00. The company has a PEG of 1.61 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.47% over the week and 1.89% over the month.
Analysts forecast that TE Connectivity Ltd. (TEL) will achieve an EPS of $1.58 for the current quarter, $1.72 for the next quarter and $7.65 for 2024. The lowest estimate earnings-per-share for the quarter is $1.55 while analysts give the company a high EPS estimate of $1.73. Comparatively, EPS for the current quarter was $1.81 a year ago. Earnings per share for the fiscal year are expected to increase by 10.30%, and 16.34% over the next financial year. EPS should shrink at an annualized rate of 11.00% over the next five years, compared to 11.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate TE Connectivity Ltd. (TEL) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 12 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TEL, a number of firms have released research notes about the stock. Stifel stated their Hold rating for the stock in a research note on February 15, 2023, with the firm’s price target at $130. Evercore ISI was of a view on January 19, 2023 that the stock is In-line, while Credit Suisse gave the stock Neutral rating on December 13, 2022, issuing a price target of $123. Oppenheimer on their part issued Perform rating on December 06, 2022.
