TE Connectivity Ltd. (NYSE:TEL - Get Free Report) insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
TE Connectivity Price Performance
Shares of NYSE:TEL traded up $0.34 during midday trading on Wednesday, reaching $162.27. 1,187,854 shares of the company's stock were exchanged, compared to its average volume of 1,705,230. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $164.11. The firm has a market capitalization of $48.12 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company's 50 day simple moving average is $145.29 and its two-hundred day simple moving average is $147.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.75%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio is 62.42%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on TEL. JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Friday, April 25th. Wall Street Zen lowered shares of TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.50.
Check Out Our Latest Research Report on TEL
Hedge Funds Weigh In On TE Connectivity
Several institutional investors and hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares during the last quarter. Costello Asset Management INC acquired a new position in TE Connectivity during the first quarter worth $28,000. Millstone Evans Group LLC bought a new position in shares of TE Connectivity during the first quarter valued at about $32,000. Kelly Lawrence W & Associates Inc. CA bought a new position in TE Connectivity during the first quarter valued at about $34,000. Finally, Ransom Advisory Ltd bought a new position in TE Connectivity during the first quarter worth about $34,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.
About TE Connectivity
(
Get Free Report)
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.
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