TE Connectivity Ltd. (NYSE:TEL) CFO Sells $5,802,620.52 in Stock

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) CFO Heath A. Mitts sold 37,844 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the transaction, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at $6,976,974.99. This represents a 45.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

TE Connectivity Stock Performance

NYSE:TEL traded up $1.09 during mid-day trading on Thursday, hitting $161.83. 616,789 shares of the company traded hands, compared to its average volume of 1,690,074. The stock's fifty day moving average price is $141.31 and its 200-day moving average price is $146.47. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $163.39. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market cap of $47.99 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.86 earnings per share. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's payout ratio is currently 62.42%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Friday, April 25th. The Goldman Sachs Group reduced their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Truist Financial reduced their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.50.

Institutional Investors Weigh In On TE Connectivity

Hedge funds have recently made changes to their positions in the company. Meyer Handelman Co. raised its position in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after purchasing an additional 9,175 shares during the period. abrdn plc bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $15,739,000. Truist Financial Corp grew its stake in shares of TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after buying an additional 31,991 shares during the last quarter. Carnegie Investment Counsel grew its stake in shares of TE Connectivity by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker's stock valued at $17,019,000 after buying an additional 4,913 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $237,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

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.