Insider Selling: TE Connectivity Ltd. (TEL) Insider Sells $135,569.25 in Stock
TE Connectivity Ltd. (NYSE:TEL) insider Terrence R. Curtin sold 2,031 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $66.75, for a total value of $135,569.25. Following the transaction, the insider now owns 43,952 shares in the company, valued at approximately $2,933,796. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
TE Connectivity Ltd. (NYSE:TEL) opened at 67.17 on Friday. The stock has a market cap of $23.86 billion, a P/E ratio of 12.34 and a beta of 1.20. The firm’s 50 day moving average price is $63.65 and its 200-day moving average price is $61.24. TE Connectivity Ltd. has a 12-month low of $51.70 and a 12-month high of $67.99.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.07. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.62 billion. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. TE Connectivity’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post $4.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 2.20%. TE Connectivity’s dividend payout ratio (DPR) is presently 27.01%.
Several brokerages have commented on TEL. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, September 26th. RBC Capital Markets reissued an “outperform” rating and issued a $65.00 price objective (up from $63.00) on shares of TE Connectivity in a research report on Thursday, July 21st. Royal Bank Of Canada increased their price objective on TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Finally, Morgan Stanley reissued a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.67.
A number of large investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. acquired a new stake in TE Connectivity during the third quarter worth about $105,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in TE Connectivity by 106.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,274 shares of the company’s stock worth $130,000 after buying an additional 1,174 shares during the period. Global X Management Co. LLC raised its stake in TE Connectivity by 97.0% in the third quarter. Global X Management Co. LLC now owns 2,098 shares of the company’s stock worth $135,000 after buying an additional 1,033 shares during the period. Financial Architects Inc raised its stake in TE Connectivity by 41.9% in the second quarter. Financial Architects Inc now owns 2,416 shares of the company’s stock worth $138,000 after buying an additional 713 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in TE Connectivity by 0.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,594 shares of the company’s stock worth $148,000 after buying an additional 19 shares during the period. Institutional investors own 90.52% of the company’s stock.
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.
Receive News & Stock Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related stocks with our FREE daily email newsletter.