Short Interest in TE Connectivity Ltd. (NYSE:TEL) Rises By 22.7%

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 5,840,000 shares, a growth of 22.7% from the April 30th total of 4,760,000 shares. Based on an average trading volume of 1,950,000 shares, the short-interest ratio is currently 3.0 days. Approximately 2.0% of the company's stock are short sold.

Insider Activity at TE Connectivity

In other news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the transaction, the executive vice president now directly owns 24,625 shares of the company's stock, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the sale, the insider now owns 25,976 shares in the company, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock valued at $27,369,059 over the last ninety days. Corporate insiders own 0.90% of the company's stock.

Institutional Trading of TE Connectivity

A number of large investors have recently added to or reduced their stakes in TEL. Modern Wealth Management LLC bought a new position in shares of TE Connectivity in the first quarter valued at $310,000. Strs Ohio acquired a new stake in shares of TE Connectivity during the first quarter worth $16,252,000. Foresight Group Ltd Liability Partnership purchased a new stake in shares of TE Connectivity during the first quarter valued at $31,983,000. Acadian Asset Management LLC boosted its position in shares of TE Connectivity by 0.7% in the 1st quarter. Acadian Asset Management LLC now owns 573,597 shares of the electronics maker's stock valued at $81,044,000 after purchasing an additional 3,840 shares during the period. Finally, Ransom Advisory Ltd purchased a new position in TE Connectivity in the 1st quarter worth about $34,000. 91.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TEL shares. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Citigroup cut their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. UBS Group raised their target price on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.50.

TE Connectivity Price Performance

Shares of NYSE TEL traded up $0.20 during mid-day trading on Thursday, reaching $162.27. 1,605,868 shares of the company traded hands, compared to its average volume of 1,706,833. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $168.00. The firm has a market cap 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 stock has a fifty day simple moving average of $145.69 and a 200-day simple moving average of $147.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.86 EPS. Equities research analysts anticipate that TE Connectivity will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

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

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.