TE Connectivity Ltd. (NYSE:TEL) EVP John S. Jenkins Sells 45,850 Shares

Key Points

• John S. Jenkins, EVP of TE Connectivity, sold 45,850 shares of the company's stock, reducing his holding by 65.06% to 24,625 shares.
• TE Connectivity reported earnings of $2.27 per share for the last quarter, surpassing estimates and showing a 13.9% revenue increase year over year.
• The company announced a quarterly dividend of $0.71 per share with a yield of 1.36%, to be paid on September 12th.

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) EVP John S. Jenkins sold 45,850 shares of TE Connectivity stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the sale, the executive vice president owned 24,625 shares of the company's stock, valued at $5,154,751.25. This represents a 65.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded down $3.20 during trading hours on Friday, hitting $202.55. 914,307 shares of the company were exchanged, compared to its average volume of 1,853,763. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $212.76. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $173.44 and a 200-day moving average of $155.56. The stock has a market capitalization of $59.85 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 2.47 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. The company's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.4%. TE Connectivity's dividend payout ratio is 58.80%.

Wall Street Analyst Weigh In

TEL has been the topic of several research analyst reports. UBS Group boosted their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Citigroup boosted their price objective on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $194.80.

Institutional Trading of TE Connectivity

Several large investors have recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new position in TE Connectivity during the second quarter worth about $26,000. Salomon & Ludwin LLC grew its stake in TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker's stock valued at $31,000 after purchasing an additional 66 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in TE Connectivity during the 2nd quarter valued at approximately $33,000. Costello Asset Management INC acquired a new stake in TE Connectivity during the 1st quarter valued at approximately $28,000. Finally, Millstone Evans Group LLC acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 91.43% of the company's stock.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.