Insider Selling: TE Connectivity Ltd. (NYSE:TEL) Director Sells 7,044 Shares of Stock

TE Connectivity Ltd. (NYSE:TEL) Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which is available through this link.

TE Connectivity Trading Up 1.8 %

Shares of TEL stock traded up $2.59 on Monday, reaching $142.80. 1,695,099 shares of the stock were exchanged, compared to its average volume of 2,213,339. The firm has a 50 day moving average of $142.55 and a two-hundred day moving average of $136.33. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The stock has a market cap of $44.38 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. On average, research analysts anticipate that TE Connectivity Ltd. will post 7.55 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. TE Connectivity’s payout ratio is currently 21.59%.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its position in shares of TE Connectivity by 8.2% during the third quarter. Asset Management One Co. Ltd. now owns 142,097 shares of the electronics maker’s stock worth $17,553,000 after purchasing an additional 10,784 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of TE Connectivity by 4.1% during the third quarter. Ballentine Partners LLC now owns 2,536 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 99 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of TE Connectivity by 8.8% during the third quarter. Valeo Financial Advisors LLC now owns 4,016 shares of the electronics maker’s stock worth $496,000 after purchasing an additional 324 shares during the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of TE Connectivity during the third quarter worth about $824,000. Finally, Compagnie Lombard Odier SCmA lifted its position in shares of TE Connectivity by 20.7% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 33,847 shares of the electronics maker’s stock worth $4,181,000 after buying an additional 5,803 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TEL shares. JPMorgan Chase & Co. decreased their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday. Truist Financial upped their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. StockNews.com initiated coverage on TE Connectivity in a research note on Monday, April 22nd. They issued a “buy” rating on the stock. Robert W. Baird reduced their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus upped their target price on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.50.

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.