Tyco International Ltd. (TYC) Shares Gap Up to $45.01
Shares of Tyco International Ltd. (NYSE:TYC) gapped up before the market opened on Friday . The stock had previously closed at $44.70, but opened at $45.01. Tyco International shares last traded at $45.77, with a volume of 3,258,889 shares.
TYC has been the subject of a number of research reports. Atlantic Securities upgraded shares of Tyco International from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $52.00 in a research note on Thursday, May 26th. Buckingham Research initiated coverage on shares of Tyco International in a research note on Wednesday, June 1st. They set a “neutral” rating for the company. Royal Bank Of Canada cut shares of Tyco International from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $41.00 to $34.00 in a research note on Wednesday, June 1st. Zacks Investment Research upgraded shares of Tyco International from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Finally, Credit Suisse Group AG restated 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. Tyco International currently has a consensus rating of “Hold” and a consensus target price of $40.23.
The stock’s 50 day moving average is $46.63 and its 200 day moving average is $42.25. The company has a market cap of $19.43 billion and a P/E ratio of 37.07.
Tyco International (NYSE:TYC) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ 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. Tyco International’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, equities research analysts anticipate that Tyco International Ltd. will post $2.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 5th were given a dividend of $0.23 per share. This is a boost from Tyco International’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 3rd. This represents a $0.92 annualized dividend and a yield of 2.02%.
In related news, Director Edward D. Breen sold 353,944 shares of the stock in a transaction dated Thursday, August 11th. The shares were 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 owns 1,835,739 shares in the company, valued at $81,506,811.60. The transaction was disclosed in a document filed with the SEC, which is available through this link.
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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