Investors Buy High Volume of TE Connectivity Put Options (TEL)

TE Connectivity Ltd. (NYSE:TEL) saw some unusual options trading activity on Friday. Stock traders bought 1,068 put options on the company. This represents an increase of approximately Infinity compared to the typical volume of 0 put options.

Shares of TE Connectivity (NYSE:TEL) opened at $95.95 on Wednesday. TE Connectivity has a one year low of $66.14 and a one year high of $96.68. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The firm has a market cap of $33,740.00, a P/E ratio of 19.68, a PEG ratio of 1.84 and a beta of 1.06.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.41% and a return on equity of 18.22%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. sell-side analysts forecast that TE Connectivity will post 5.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.67%. TE Connectivity’s payout ratio is currently 34.19%.

In other TE Connectivity news, insider Joan Wainwright sold 63,562 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $94.79, for a total value of $6,025,041.98. Following the completion of the sale, the insider now owns 61,292 shares in the company, valued at approximately $5,809,868.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 186,033 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the completion of the sale, the insider now owns 298,851 shares of the company’s stock, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 742,571 shares of company stock valued at $65,219,757. 1.49% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of TEL. First Eagle Investment Management LLC boosted its position in shares of TE Connectivity by 112,210.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,684,659 shares of the electronics maker’s stock worth $132,549,000 after purchasing an additional 1,683,159 shares during the period. Janus Henderson Group PLC boosted its position in shares of TE Connectivity by 17.7% during the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after purchasing an additional 1,239,920 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of TE Connectivity by 499.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,386,610 shares of the electronics maker’s stock worth $109,098,000 after purchasing an additional 1,155,316 shares during the period. Boston Partners boosted its position in shares of TE Connectivity by 8.1% during the 3rd quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after purchasing an additional 934,796 shares during the period. Finally, Koch Industries Inc. purchased a new position in shares of TE Connectivity during the 2nd quarter worth approximately $523,000. 89.58% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of TE Connectivity in a report on Friday, November 10th. They issued an “outperform” rating and a $105.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 price objective on shares of TE Connectivity in a report on Friday, November 3rd. Robert W. Baird assumed coverage on shares of TE Connectivity in a report on Friday, November 3rd. They issued an “outperform” rating and a $105.00 price objective for the company. Morgan Stanley increased their price objective on shares of TE Connectivity from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. TE Connectivity currently has an average rating of “Buy” and an average target price of $150.00.

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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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