TE Connectivity Ltd. (TEL) Insider Sells $10,889,455.92 in Stock
TE Connectivity Ltd. (NYSE:TEL) insider Thomas J. Lynch sold 130,616 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total value of $10,889,455.92. Following the transaction, the insider now directly owns 429,499 shares in the company, valued at approximately $35,807,331.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
TE Connectivity Ltd. (NYSE TEL) opened at 86.08 on Friday. The firm’s 50-day moving average price is $80.85 and its 200-day moving average price is $78.37. The firm has a market cap of $30.42 billion, a P/E ratio of 18.28 and a beta of 1.08. TE Connectivity Ltd. has a 12 month low of $60.59 and a 12 month high of $86.10.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that TE Connectivity Ltd. will post $4.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, August 23rd. TE Connectivity’s payout ratio is 33.97%.
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Large investors have recently made changes to their positions in the business. Duncker Streett & Co. Inc. boosted its holdings in TE Connectivity by 17.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after purchasing an additional 200 shares during the period. First Command Bank boosted its holdings in TE Connectivity by 19.6% in the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after purchasing an additional 221 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in TE Connectivity by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after purchasing an additional 9 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 384 shares during the period. Finally, Acrospire Investment Management LLC bought a new position in TE Connectivity in the 2nd quarter valued at $126,000. 90.08% of the stock is owned by hedge funds and other institutional investors.
TEL has been the topic of a number of recent analyst reports. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and set a $95.00 price target on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Monday, September 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.14.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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