Investors Sell Tyco International Ltd. (TYC) on Strength (TYC)
Investors sold shares of Tyco International Ltd. (NYSE:TYC) on strength during trading on Thursday. $13.96 million flowed into the stock on the tick-up and $31.60 million flowed out of the stock on the tick-down, for a money net flow of $17.64 million out of the stock. Of all companies tracked, Tyco International had the 0th highest net out-flow for the day. Tyco International traded up $0.17 for the day and closed at $41.73
Several brokerages have recently weighed in on TYC. Zacks Investment Research upgraded Tyco International from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Royal Bank Of Canada cut shares of Tyco International from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $41.00 to $34.00 in a research report on Wednesday, June 1st. Buckingham Research initiated coverage on shares of Tyco International in a research report on Wednesday, June 1st. They issued a “neutral” rating on the stock. Atlantic Securities upgraded shares of Tyco International from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $52.00 in a research report on Thursday, May 26th. Finally, Morgan Stanley upped their price objective on shares of Tyco International from $41.00 to $44.00 in a research report on Thursday, April 7th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Tyco International presently has a consensus rating of “Hold” and an average price target of $39.62.
The company has a market capitalization of $18.20 billion and a PE ratio of 41.16. The firm’s 50 day moving average price is $42.64 and its 200-day moving average price is $37.06.
Tyco International (NYSE:TYC) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. During the same period in the previous year, the firm earned $0.55 earnings per share. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.34 billion. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Friday, July 22nd will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.92%. The ex-dividend date is Wednesday, July 20th.
In related news, Director Edward D. Breen sold 206,770 shares of Tyco International stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $37.29, for a total transaction of $7,710,453.30. Following the sale, the director now owns 1,463,454 shares of the company’s stock, valued at approximately $54,572,199.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds have modified their holdings of TYC. OppenheimerFunds Inc. increased its stake in shares of Tyco International by 3.2% in the fourth quarter. OppenheimerFunds Inc. now owns 8,270,744 shares of the company’s stock valued at $263,760,000 after buying an additional 257,839 shares during the period. Atlantic Trust Group LLC increased its stake 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 valued at $56,122,000 after buying an additional 533,750 shares during the period. New York State Common Retirement Fund increased its stake 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 valued at $31,169,000 after buying an additional 4,300 shares during the period. Nationwide Fund Advisors increased its stake in shares of Tyco International by 14.9% in the fourth quarter. Nationwide Fund Advisors now owns 376,757 shares of the company’s stock valued at $12,015,000 after buying an additional 48,976 shares during the period. Finally, Comerica Bank increased its stake in shares of Tyco International by 35.1% in the fourth quarter. Comerica Bank now owns 155,147 shares of the company’s stock valued at $4,696,000 after buying an additional 40,311 shares during the period.
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.