TE Connectivity Ltd. (NYSE:TEL) Chairman Thomas J. Lynch sold 60,000 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $93.05, for a total transaction of $5,583,000.00. Following the completion of the transaction, the chairman now owns 167,336 shares of the company’s stock, valued at approximately $15,570,614.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
TE Connectivity Ltd. (NYSE:TEL) opened at $95.04 on Friday. 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 Ltd. has a 1 year low of $66.14 and a 1 year high of $95.37. The firm has a market cap of $33,480.00, a P/E ratio of 19.42, a P/E/G ratio of 1.81 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data 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 firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the company posted $1.22 EPS. TE Connectivity’s revenue was up 3.7% on a year-over-year basis. analysts expect that TE Connectivity Ltd. will post 5.27 earnings per share for the current fiscal 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 34.19%.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in TE Connectivity by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after acquiring an additional 521,884 shares during the period. Boston Partners grew its holdings in 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 acquiring an additional 934,796 shares during the period. Janus Henderson Group PLC grew its holdings in 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 acquiring an additional 1,239,920 shares during the period. FMR LLC grew its holdings in TE Connectivity by 9.7% during the 2nd quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after acquiring an additional 472,037 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in TE Connectivity by 9.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock worth $315,955,000 after acquiring an additional 346,093 shares during the period. 90.07% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on TEL. BidaskClub cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Royal Bank Of Canada cut their target price on shares of TE Connectivity from GBX 300 ($3.95) to GBX 225 ($2.96) and set an “outperform” rating for the company in a research note on Thursday, August 10th. Morgan Stanley cut their target price on shares of TE Connectivity from GBX 350 ($4.60) to GBX 269 ($3.54) and set an “overweight” rating for the company in a research note on Tuesday, August 8th. Cowen and Company reiterated a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a research note on Thursday, August 10th. Finally, Wells Fargo & Company began coverage on shares of TE Connectivity in a research note on Friday, November 10th. They issued an “outperform” rating and a $105.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average 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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