TE Connectivity Ltd. (NYSE:TEL) insider Thomas J. Lynch sold 131,875 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $79.58, for a total value of $10,494,612.50. Following the transaction, the insider now owns 450,694 shares of the company’s stock, valued at $35,866,228.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of TE Connectivity Ltd. (NYSE TEL) traded down 0.08% during mid-day trading on Wednesday, reaching $78.71. The company had a trading volume of 853,485 shares. The company has a market capitalization of $27.94 billion, a PE ratio of 13.52 and a beta of 1.04. TE Connectivity Ltd. has a 1-year low of $54.54 and a 1-year high of $80.70. The stock’s 50-day moving average price is $77.07 and its 200 day moving average price is $73.75.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. Equities analysts expect that TE Connectivity Ltd. will post $4.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were paid a $0.40 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, May 24th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. TE Connectivity’s payout ratio is 27.54%.
A number of research analysts have recently commented on the company. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Cowen and Company reiterated an “outperform” rating and set a $95.00 target price (up from $90.00) on shares of TE Connectivity in a research report on Monday, June 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of TE Connectivity in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG increased their target price on TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $83.43.
A number of hedge funds have recently made changes to their positions in the stock. Daiwa SB Investments Ltd. purchased a new stake in shares of TE Connectivity during the first quarter valued at $101,000. Guardian Life Insurance Co. of America raised its position in TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after buying an additional 9 shares during the period. Portfolio Solutions LLC acquired a new position in shares of TE Connectivity during the first quarter worth about $104,000. Virtus Investment Advisers Inc. acquired a new position in shares of TE Connectivity during the third quarter worth about $105,000. Finally, Intellectus Partners LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth about $107,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
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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