Tyco International Ltd. (TYC) Sees Unusually-High Trading Volume
Shares of Tyco International Ltd. (NYSE:TYC) saw unusually-strong trading volume on Monday . Approximately 29,162,900 shares changed hands during trading, an increase of 493% from the previous session’s volume of 4,921,925 shares.The stock last traded at $45.59 and had previously closed at $45.01.
Several analysts have weighed in on TYC shares. Atlantic Securities raised Tyco International from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $52.00 in a report on Thursday, May 26th. Zacks Investment Research raised Tyco International from a “sell” rating to a “hold” rating and set a $49.00 price target for the company in a research note on Wednesday, July 13th. Royal Bank Of Canada cut Tyco International from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $41.00 to $34.00 in a research note on Wednesday, June 1st. Buckingham Research assumed coverage on Tyco International in a research note on Wednesday, June 1st. They issued a “neutral” rating for the company. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Tyco International in a research note on Saturday, July 9th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $40.23.
The company has a market capitalization of $19.43 billion and a P/E ratio of 37.07. The company’s 50 day moving average is $46.63 and its 200-day moving average is $42.25.
Tyco International (NYSE:TYC) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the business earned $0.59 earnings per share. Tyco International’s revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that Tyco International Ltd. will post $2.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Tyco International’s previous quarterly dividend of $0.21.
In other news, Director Edward D. Breen sold 353,944 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $44.40, for a total transaction of $15,715,113.60. Following the completion of the transaction, the director now directly owns 1,835,739 shares in the company, valued at $81,506,811.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.