TE Connectivity Ltd. (NYSE:TEL) COO Joseph B. Donahue sold 52,575 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total transaction of $4,207,577.25. Following the completion of the sale, the chief operating officer now owns 93,484 shares in the company, valued at approximately $7,481,524.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
TE Connectivity Ltd. (NYSE:TEL) traded down 2.33% on Thursday, hitting $77.61. 1,106,530 shares of the company were exchanged. The firm’s 50 day moving average is $80.27 and its 200 day moving average is $76.95. TE Connectivity Ltd. has a 52 week low of $60.38 and a 52 week high of $85.20. The company has a market capitalization of $27.43 billion, a P/E ratio of 16.48 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post $4.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
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A number of hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. increased its stake in shares of TE Connectivity by 198.4% in the fourth quarter. Macquarie Group Ltd. now owns 27,600 shares of the electronics maker’s stock worth $1,912,000 after buying an additional 18,350 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of TE Connectivity by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 308,177 shares of the electronics maker’s stock worth $22,974,000 after buying an additional 9,359 shares during the period. Fulton Bank N.A. increased its stake in shares of TE Connectivity by 19.6% in the first quarter. Fulton Bank N.A. now owns 6,046 shares of the electronics maker’s stock worth $451,000 after buying an additional 992 shares during the period. American Investment Services Inc. purchased a new stake in shares of TE Connectivity during the first quarter worth about $200,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of TE Connectivity during the first quarter worth about $1,056,000. 90.37% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on TEL. Morgan Stanley lifted their price target on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of TE Connectivity in a research note on Tuesday, June 6th. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Cowen and Company reiterated an “outperform” rating and set a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, June 5th. Finally, BidaskClub cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.43.
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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