Tyco International Ltd. (TYC) Sees Unusually-High Trading Volume
Tyco International Ltd. (NYSE:TYC) shares saw strong trading volume on Tuesday . 3,321,496 shares changed hands during trading, an increase of 23% from the previous session’s volume of 2,707,888 shares.The stock last traded at $45.18 and had previously closed at $44.34.
Several equities research analysts have issued reports on the company. Credit Suisse Group AG reissued a “hold” rating on shares of Tyco International in a research note on Saturday, July 9th. Buckingham Research lifted their price objective on Tyco International from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, May 2nd. Royal Bank Of Canada cut Tyco International from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $41.00 to $34.00 in a research note on Wednesday, June 1st. Atlantic Securities raised Tyco International from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $52.00 in a research note on Thursday, May 26th. Finally, Zacks Investment Research raised Tyco International from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Tyco International presently has a consensus rating of “Hold” and an average price target of $40.23.
The firm has a market capitalization of $19.23 billion and a P/E ratio of 36.68. The stock has a 50 day moving average price of $44.20 and a 200 day moving average price of $39.90.
Tyco International (NYSE:TYC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm earned $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Tyco International Ltd. will post $2.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This is a boost from Tyco International’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.04%.
In other Tyco International news, Director Edward D. Breen sold 353,944 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $44.40, for a total value of $15,715,113.60. Following the completion of the transaction, the director now directly owns 1,835,739 shares of the company’s stock, valued at approximately $81,506,811.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
An institutional investor recently raised its position in Tyco International stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Tyco International Ltd. (NYSE:TYC) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,900 shares of the company’s stock after buying an additional 22,200 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tyco International were worth $3,345,000 at the end of the most recent 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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