TE Connectivity Ltd (NYSE:TEL) COO Joseph B. Donahue sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $75.57, for a total transaction of $498,762.00. Following the transaction, the chief operating officer now owns 40,909 shares of the company’s stock, valued at approximately $3,091,493.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of TE Connectivity Ltd (NYSE:TEL) traded up 1.1176% during trading on Friday, hitting $74.7158. 397,464 shares of the company were exchanged. TE Connectivity Ltd has a 1-year low of $54.54 and a 1-year high of $79.69. The stock has a market capitalization of $26.53 billion, a PE ratio of 12.8356 and a beta of 1.16. The company has a 50 day moving average of $74.69 and a 200-day moving average of $72.07.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. TE Connectivity had a return on equity of 19.26% and a net margin of 16.56%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. On average, analysts forecast that TE Connectivity Ltd will post $4.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, May 24th. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. TE Connectivity’s dividend payout ratio is currently 25.92%.
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Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, May 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target (up previously from $82.00) on shares of TE Connectivity in a research report on Saturday, April 29th. Deutsche Bank AG lifted their price target on shares of TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Morgan Stanley lifted their price target on shares of TE Connectivity from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, April 28th. Finally, Cowen and Company assumed coverage on shares of TE Connectivity in a research report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $82.29.
Several hedge funds and other institutional investors have recently made changes to their positions in TEL. World Asset Management Inc raised its position in shares of TE Connectivity by 1.2% in the third quarter. World Asset Management Inc now owns 34,601 shares of the electronics maker’s stock worth $2,228,000 after buying an additional 412 shares in the last quarter. S&CO Inc. raised its position in shares of TE Connectivity by 25.5% in the third quarter. S&CO Inc. now owns 25,985 shares of the electronics maker’s stock worth $1,673,000 after buying an additional 5,275 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of TE Connectivity by 87.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 53,685 shares of the electronics maker’s stock worth $3,456,000 after buying an additional 25,078 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of TE Connectivity by 1.3% in the third quarter. Wells Fargo & Company MN now owns 1,997,517 shares of the electronics maker’s stock worth $128,600,000 after buying an additional 25,948 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of TE Connectivity by 41.8% in the third quarter. APG Asset Management N.V. now owns 1,120,769 shares of the electronics maker’s stock worth $72,155,000 after buying an additional 330,212 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.
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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