Insider Selling: TE Connectivity Ltd. (TEL) Insider Sells $78,771.52 in Stock
TE Connectivity Ltd. (NYSE:TEL) insider Terrence R. Curtin sold 1,184 shares of TE Connectivity stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $66.53, for a total value of $78,771.52. Following the transaction, the insider now directly owns 42,379 shares in the company, valued at approximately $2,819,474.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
TE Connectivity Ltd. (NYSE:TEL) opened at 66.82 on Thursday. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 12.27 and a beta of 1.20. The company has a 50-day moving average price of $63.57 and a 200-day moving average price of $61.20. TE Connectivity Ltd. has a one year low of $51.70 and a one year high of $67.99.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.62 billion. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post $4.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, November 22nd. TE Connectivity’s payout ratio is presently 27.01%.
Hedge funds have recently made changes to their positions in the stock. HBK Investments L P bought a new stake in shares of TE Connectivity during the first quarter worth about $1,352,000. Renaissance Technologies LLC increased its stake in shares of TE Connectivity by 253.6% in the first quarter. Renaissance Technologies LLC now owns 213,900 shares of the company’s stock worth $13,245,000 after buying an additional 153,400 shares during the last quarter. AMP Capital Investors Ltd increased its stake in shares of TE Connectivity by 33.9% in the first quarter. AMP Capital Investors Ltd now owns 151,820 shares of the company’s stock worth $9,289,000 after buying an additional 38,443 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of TE Connectivity by 67.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 466,068 shares of the company’s stock valued at $28,859,000 after buying an additional 188,022 shares during the period. Finally, Clark Capital Management Group Inc. acquired a new position in shares of TE Connectivity during the first quarter valued at $294,000. 90.52% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on TEL shares. Morgan Stanley reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. Zacks Investment Research upgraded TE Connectivity from a “sell” rating to a “hold” rating in a research note on Wednesday, October 12th. RBC Capital Markets reiterated an “outperform” rating and issued a $65.00 target price (up from $63.00) on shares of TE Connectivity in a research note on Thursday, July 21st. Finally, Royal Bank Of Canada lifted their target price on TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.67.
About TE Connectivity
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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