Tyco International Ltd. (TYC) Sees Unusually-High Trading Volume
Tyco International Ltd. (NYSE:TYC) shares saw unusually-high trading volume on Tuesday . Approximately 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.
TYC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Tyco International from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Royal Bank Of Canada cut shares of Tyco International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $41.00 to $34.00 in a research note on Wednesday, June 1st. Buckingham Research increased their price objective on shares of Tyco International from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, May 2nd. Credit Suisse Group AG reissued a “hold” rating on shares of Tyco International in a research note on Saturday, July 9th. Finally, Atlantic Securities raised shares of Tyco International from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $52.00 in a research note on Thursday, May 26th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Tyco International currently has an average rating of “Hold” and a consensus price target of $40.23.
The firm has a 50-day moving average of $44.27 and a 200 day moving average of $39.94. The company has a market cap of $18.84 billion and a price-to-earnings ratio of 35.94.
Tyco International (NYSE:TYC) last issued 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 company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Tyco International’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that Tyco International Ltd. will post $2.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, August 3rd. This is a boost from Tyco International’s previous quarterly dividend of $0.21.
In related news, Director Edward D. Breen sold 353,944 shares of Tyco International 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 transaction, the director now directly owns 1,835,739 shares of the company’s stock, valued at $81,506,811.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
A hedge fund recently raised its stake in Tyco International stock. American International Group Inc. boosted its position in Tyco International Ltd. (NYSE:TYC) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,322 shares of the company’s stock after buying an additional 4,768 shares during the period. American International Group Inc.’s holdings in Tyco International were worth $4,986,000 at the end of the most recent reporting 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.
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