TE Connectivity Ltd. (TEL) CEO Sells $6,570,418.90 in Stock
TE Connectivity Ltd. (NYSE:TEL) CEO Thomas J. Lynch sold 97,745 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $67.22, for a total value of $6,570,418.90. Following the completion of the sale, the chief executive officer now owns 300,901 shares of the company’s stock, valued at approximately $20,226,565.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
TE Connectivity Ltd. (NYSE:TEL) opened at 67.64 on Thursday. The stock has a market capitalization of $24.04 billion, a PE ratio of 12.42 and a beta of 1.20. The stock’s 50 day moving average price is $64.28 and its 200 day moving average price is $61.69. TE Connectivity Ltd. has a 1-year low of $51.70 and a 1-year high of $69.40.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The firm earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post $4.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 22nd. TE Connectivity’s dividend payout ratio is currently 27.01%.
Several analysts have weighed in on the company. RBC Capital Markets reiterated an “outperform” rating and issued a $66.00 price objective (up previously from $65.00) on shares of TE Connectivity in a research report on Thursday, November 3rd. Royal Bank Of Canada boosted their price objective on TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 31st. Finally, Morgan Stanley reiterated a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. TE Connectivity currently has a consensus rating of “Hold” and an average price target of $65.67.
Several hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC purchased a new position in TE Connectivity during the third quarter valued at $754,000. ETRADE Capital Management LLC boosted its position in TE Connectivity by 3.3% in the third quarter. ETRADE Capital Management LLC now owns 29,614 shares of the company’s stock valued at $1,907,000 after buying an additional 935 shares in the last quarter. D.A. Davidson & CO. boosted its position in TE Connectivity by 4.2% in the third quarter. D.A. Davidson & CO. now owns 60,433 shares of the company’s stock valued at $3,889,000 after buying an additional 2,450 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the company’s stock valued at $768,463,000 after buying an additional 2,348,403 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in TE Connectivity during the third quarter valued at $553,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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