Terrence R. Curtin Sells 1,253 Shares of TE Connectivity Ltd. (TEL) Stock
TE Connectivity Ltd. (NYSE:TEL) insider Terrence R. Curtin sold 1,253 shares of TE Connectivity stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $66.98, for a total value of $83,925.94. Following the transaction, the insider now directly owns 42,507 shares of the company’s stock, valued at approximately $2,847,118.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
TE Connectivity Ltd. (NYSE:TEL) traded down 0.64% during mid-day trading on Wednesday, reaching $66.82. The company had a trading volume of 1,360,151 shares. TE Connectivity Ltd. has a 1-year low of $51.70 and a 1-year high of $67.99. The company has a market capitalization of $23.74 billion, a PE ratio of 12.27 and a beta of 1.20. The firm has a 50-day moving average of $63.51 and a 200 day moving average of $61.16.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The business earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.62 billion. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post $4.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, November 22nd. TE Connectivity’s payout ratio is 27.01%.
A number of analysts have recently issued reports on TEL shares. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley restated a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. RBC Capital Markets restated an “outperform” rating and issued a $66.00 target price (up previously from $65.00) on shares of TE Connectivity in a research report on Thursday, November 3rd. Finally, Royal Bank Of Canada boosted their target price on TE Connectivity from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $65.67.
A number of hedge funds have recently modified their holdings of TEL. LPL Financial LLC bought a new stake in shares of TE Connectivity during the third quarter worth approximately $553,000. Cullen Capital Management LLC bought a new stake in shares of TE Connectivity during the third quarter worth approximately $1,045,000. Credit Suisse AG boosted its stake in shares of TE Connectivity by 18.6% in the third quarter. Credit Suisse AG now owns 3,610,989 shares of the company’s stock worth $232,476,000 after buying an additional 565,953 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of TE Connectivity by 21.7% in the third quarter. Ameritas Investment Partners Inc. now owns 8,500 shares of the company’s stock worth $547,000 after buying an additional 1,513 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of TE Connectivity during the third quarter worth approximately $966,000. Institutional investors and hedge funds own 90.52% of the company’s stock.
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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