Insider Selling: TE Connectivity Ltd. (TEL) COO Sells $2,153,377.20 in Stock
TE Connectivity Ltd. (NYSE:TEL) COO Joseph B. Donahue sold 32,188 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $66.90, for a total value of $2,153,377.20. Following the completion of the transaction, the chief operating officer now owns 43,694 shares in the company, valued at $2,923,128.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at 67.17 on Friday. The company has a market capitalization of $23.86 billion, a PE ratio of 12.34 and a beta of 1.20. TE Connectivity Ltd. has a 52 week low of $51.70 and a 52 week high of $67.99. The firm’s 50-day moving average price is $63.65 and its 200 day moving average price is $61.24.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.62 billion. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Equities analysts predict 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. Shareholders of record on Friday, November 25th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, November 22nd. TE Connectivity’s dividend payout ratio is currently 27.01%.
A number of large investors have recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD increased its stake in shares of TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the company’s stock valued at $768,463,000 after buying an additional 2,348,403 shares in the last quarter. Boston Partners raised its stake in TE Connectivity by 21.5% in the third quarter. Boston Partners now owns 10,886,199 shares of the company’s stock valued at $700,854,000 after buying an additional 1,922,737 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in TE Connectivity by 1.6% in the second quarter. Artisan Partners Limited Partnership now owns 10,715,976 shares of the company’s stock valued at $611,989,000 after buying an additional 165,600 shares during the last quarter. Longview Partners Guernsey LTD raised its stake in TE Connectivity by 2.0% in the third quarter. Longview Partners Guernsey LTD now owns 10,481,429 shares of the company’s stock valued at $674,794,000 after buying an additional 205,386 shares during the last quarter. Finally, First Pacific Advisors LLC raised its stake in TE Connectivity by 5.4% in the second quarter. First Pacific Advisors LLC now owns 6,907,710 shares of the company’s stock valued at $394,499,000 after buying an additional 353,300 shares during the last quarter. 90.52% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the company. RBC Capital Markets reaffirmed an “outperform” rating and issued a $66.00 target price (up from $65.00) on shares of TE Connectivity in a report on Thursday, November 3rd. Royal Bank Of Canada lifted their target price 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 cut TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of TE Connectivity in a report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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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