Tyco International Ltd. (TYC) Reaches New 52-Week High at $45.68
Tyco International Ltd. (NYSE:TYC) reached a new 52-week high on Thursday . The company traded as high as $45.68 and last traded at $45.15, with a volume of 5,295,729 shares. The stock had previously closed at $43.23.
A number of research analysts have commented on the stock. Buckingham Research assumed coverage on shares of Tyco International in a research note on Wednesday, June 1st. They set a “neutral” rating for the company. Atlantic Securities upgraded shares of Tyco International from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $52.00 in a research note on Thursday, May 26th. Zacks Investment Research cut shares of Tyco International from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Credit Suisse Group AG restated a “hold” rating on shares of Tyco International in a research note on Saturday, July 9th. Finally, Morgan Stanley raised their price target on shares of Tyco International from $41.00 to $44.00 in a research note on Thursday, April 7th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.23.
The firm’s 50 day moving average price is $42.86 and its 200 day moving average price is $37.66. The company has a market capitalization of $19.04 billion and a price-to-earnings ratio of 43.06.
Tyco International (NYSE:TYC) last announced its earnings results on Friday, April 29th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. During the same quarter in the previous year, the company earned $0.55 EPS. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.34 billion. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Tyco International Ltd. will post $2.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Friday, July 22nd will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, July 20th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.90%.
In other Tyco International news, Director Edward D. Breen sold 206,770 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $37.29, for a total transaction of $7,710,453.30. Following the transaction, the director now owns 1,463,454 shares in the company, valued at approximately $54,572,199.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several hedge funds and institutional investors have made changes to their positions in the company. Comerica Bank raised its position in shares of Tyco International by 35.1% in the fourth quarter. Comerica Bank now owns 155,147 shares of the company’s stock worth $4,696,000 after buying an additional 40,311 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Tyco International by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 977,400 shares of the company’s stock worth $31,169,000 after buying an additional 4,300 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Tyco International by 146.8% in the fourth quarter. LS Investment Advisors LLC now owns 40,115 shares of the company’s stock worth $1,279,000 after buying an additional 23,862 shares during the last quarter. Atlantic Trust Group LLC raised its position in shares of Tyco International by 43.5% in the fourth quarter. Atlantic Trust Group LLC now owns 1,759,878 shares of the company’s stock worth $56,122,000 after buying an additional 533,750 shares during the last quarter. Finally, Advantus Capital Management Inc raised its position in shares of Tyco International by 3.1% in the fourth quarter. Advantus Capital Management Inc now owns 40,623 shares of the company’s stock worth $1,295,000 after buying an additional 1,226 shares during the last quarter.
Tyco International Ltd. (Tyco) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products. It operates in five segments: ADT Worldwide, Flow Control, Fire Protection Services, Electrical and Metal Products, and Safety Products.
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