Investors Buy Large Volume of TE Connectivity Put Options (TEL)

TE Connectivity Ltd. (NYSE:TEL) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 753 put options on the stock. This represents an increase of approximately Infinity compared to the average volume of 0 put options.

Shares of TE Connectivity (TEL) opened at $92.73 on Friday. The stock has a market capitalization of $32,359.38, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. TE Connectivity’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.22 EPS. equities analysts forecast that TE Connectivity will post 5.27 earnings per share for the current fiscal year.

In other news, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the sale, the insider now owns 298,851 shares in the company, valued at $23,695,895.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Joseph B. Donahue sold 6,300 shares of TE Connectivity stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.70, for a total transaction of $508,410.00. Following the sale, the chief operating officer now owns 34,609 shares in the company, valued at approximately $2,792,946.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 453,566 shares of company stock worth $38,072,448. Company insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HL Financial Services LLC boosted its holdings in shares of TE Connectivity by 0.5% during the 3rd quarter. HL Financial Services LLC now owns 1,474,877 shares of the electronics maker’s stock valued at $122,503,000 after acquiring an additional 7,729 shares during the last quarter. FDx Advisors Inc. boosted its holdings in shares of TE Connectivity by 35.6% during the 3rd quarter. FDx Advisors Inc. now owns 32,991 shares of the electronics maker’s stock valued at $2,740,000 after acquiring an additional 8,665 shares during the last quarter. Pitcairn Co. purchased a new stake in shares of TE Connectivity during the 3rd quarter valued at about $1,755,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of TE Connectivity by 1.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 86,272 shares of the electronics maker’s stock valued at $7,166,000 after acquiring an additional 883 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of TE Connectivity by 8.1% during the 3rd quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock valued at $1,032,298,000 after acquiring an additional 934,796 shares during the last quarter. 90.33% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on TEL shares. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley reiterated an “overweight” rating and set a $89.00 price objective on shares of TE Connectivity in a research report on Wednesday, September 20th. Finally, BidaskClub cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $93.50.

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TE Connectivity Company Profile

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.

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