TE Connectivity Ltd. (TEL) Insider Steven T. Merkt Sells 10,000 Shares
TE Connectivity Ltd. (NYSE:TEL) insider Steven T. Merkt sold 10,000 shares of TE Connectivity stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $66.64, for a total value of $666,400.00. Following the completion of the transaction, the insider now owns 14,717 shares in the company, valued at approximately $980,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at 66.74 on Tuesday. The stock has a market capitalization of $23.71 billion, a PE ratio of 12.26 and a beta of 1.20. TE Connectivity Ltd. has a 12 month low of $51.70 and a 12 month high of $67.99. The company’s 50 day moving average price is $63.33 and its 200 day moving average price is $61.05.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.07. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The business earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that TE Connectivity Ltd. will post $4.36 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. boosted its stake in TE Connectivity by 14.8% in the third quarter. Panagora Asset Management Inc. now owns 16,802 shares of the company’s stock valued at $1,082,000 after buying an additional 2,161 shares during the last quarter. Clinton Group Inc. bought a new stake in TE Connectivity during the third quarter valued at $1,354,000. The Manufacturers Life Insurance Company bought a new stake in TE Connectivity during the third quarter valued at $42,420,000. Virtus Investment Advisers Inc. bought a new stake in TE Connectivity during the third quarter valued at $105,000. Finally, United Services Automobile Association boosted its stake in TE Connectivity by 0.3% in the third quarter. United Services Automobile Association now owns 112,904 shares of the company’s stock valued at $7,269,000 after buying an additional 318 shares during the last quarter. Institutional investors and hedge funds own 90.52% of the company’s stock.
Several equities research analysts have weighed in on the company. RBC Capital Markets reissued an “outperform” rating and issued a $66.00 price target (up previously from $65.00) on shares of TE Connectivity in a report on Thursday, November 3rd. Royal Bank Of Canada raised their price target on TE Connectivity from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Finally, Morgan Stanley reissued a “buy” rating on shares of TE Connectivity in a report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. TE Connectivity currently has a consensus rating of “Hold” and an average price target of $65.67.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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