TE Connectivity Ltd. (TEL) CEO Thomas J. Lynch Sells 97,745 Shares
TE Connectivity Ltd. (NYSE:TEL) CEO Thomas J. Lynch sold 97,745 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $67.22, for a total value of $6,570,418.90. Following the sale, the chief executive officer now directly owns 300,901 shares of the company’s stock, valued at approximately $20,226,565.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
TE Connectivity Ltd. (NYSE:TEL) traded down 0.04% on Monday, hitting $67.97. The stock had a trading volume of 453,409 shares. TE Connectivity Ltd. has a 1-year low of $51.70 and a 1-year high of $68.14. The stock has a 50 day moving average price of $64.08 and a 200 day moving average price of $61.53. The company has a market cap of $24.15 billion, a P/E ratio of 12.49 and a beta of 1.20.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts expect that TE Connectivity Ltd. will post $4.36 EPS for the current fiscal year.
The company 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 is Tuesday, November 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.18%. TE Connectivity’s dividend payout ratio (DPR) is 27.01%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in 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 period. Babson Capital Management LLC purchased a new position in TE Connectivity during the first quarter worth $1,071,000. Logan Capital Management Inc. increased its position in TE Connectivity by 23.5% in the first quarter. Logan Capital Management Inc. now owns 8,407 shares of the company’s stock worth $521,000 after buying an additional 1,600 shares during the period. Phocas Financial Corp. increased its position in TE Connectivity by 72.1% in the first quarter. Phocas Financial Corp. now owns 60,716 shares of the company’s stock worth $3,760,000 after buying an additional 25,428 shares during the period. Finally, First Republic Investment Management Inc. increased its position in TE Connectivity by 38.4% in the first quarter. First Republic Investment Management Inc. now owns 88,849 shares of the company’s stock worth $5,501,000 after buying an additional 24,630 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.
Several brokerages have issued reports on TEL. Royal Bank Of Canada increased 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. RBC Capital Markets reiterated 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. Zacks Investment Research lowered TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Finally, Morgan Stanley reiterated a “buy” rating on shares of TE Connectivity in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Hold” and a consensus price target 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.
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.