Joan Wainwright Sells 63,562 Shares of TE Connectivity Ltd. (TEL) Stock
TE Connectivity Ltd. (NYSE:TEL) insider Joan Wainwright sold 63,562 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $94.79, for a total transaction of $6,025,041.98. Following the completion of the sale, the insider now directly owns 61,292 shares of the company’s stock, valued at $5,809,868.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
TE Connectivity Ltd. (NYSE TEL) traded down $0.11 during midday trading on Monday, reaching $95.04. 2,994,700 shares of the company traded hands, compared to its average volume of 1,424,926. The stock has a market capitalization of $33,720.00, a PE ratio of 19.68, a P/E/G ratio of 1.84 and a beta of 1.06. TE Connectivity Ltd. has a 52-week low of $66.14 and a 52-week high of $95.37. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. equities research analysts predict that TE Connectivity Ltd. will post 5.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a $0.40 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.68%. TE Connectivity’s dividend payout ratio is presently 34.19%.
Several hedge funds have recently added to or reduced their stakes in TEL. Renaissance Technologies LLC acquired a new stake in TE Connectivity during the first quarter worth approximately $3,601,000. State of Alaska Department of Revenue boosted its position in TE Connectivity by 42.4% during the second quarter. State of Alaska Department of Revenue now owns 4,670 shares of the electronics maker’s stock worth $367,000 after acquiring an additional 1,391 shares during the last quarter. Aperio Group LLC boosted its position in TE Connectivity by 13.8% during the second quarter. Aperio Group LLC now owns 142,022 shares of the electronics maker’s stock worth $11,174,000 after acquiring an additional 17,209 shares during the last quarter. BTIM Corp. boosted its position in TE Connectivity by 41.2% during the second quarter. BTIM Corp. now owns 59,970 shares of the electronics maker’s stock worth $4,718,000 after acquiring an additional 17,500 shares during the last quarter. Finally, Asset Advisors Corp boosted its position in TE Connectivity by 12.3% during the second quarter. Asset Advisors Corp now owns 37,550 shares of the electronics maker’s stock worth $2,954,000 after acquiring an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
TEL has been the subject of a number of research reports. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada reissued a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Morgan Stanley reissued an “overweight” rating and issued a $89.00 price target on shares of TE Connectivity in a research report on Wednesday, September 20th. Stifel Nicolaus reissued a “buy” rating and issued a $98.00 price target on shares of TE Connectivity in a research report on Friday, November 3rd. Finally, Citigroup Inc. upped their target price on shares of TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $150.00.
About TE Connectivity
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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