TE Connectivity CEO Thomas Lynch Unloads 49,021 Shares (TEL)
TE Connectivity (NYSE:TEL) CEO Thomas Lynch sold 49,021 shares of TE Connectivity stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.60, for a total transaction of $2,529,483.60. Following the sale, the chief executive officer now directly owns 307,456 shares of the company’s stock, valued at approximately $15,864,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on TEL. Analysts at RBC Capital raised their price target on shares of TE Connectivity from $55.00 to $57.00 in a research note to investors on Wednesday, August 7th. They now have an “outperform” rating on the stock. Finally, analysts at Bank of America Corp. reiterated a “hold” rating on shares of TE Connectivity in a research note to investors on Thursday, July 25th. They now have a $43.00 price target on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Buy” and an average price target of $49.00.
Shares of TE Connectivity (NYSE:TEL) traded down 0.97% during mid-day trading on Tuesday, hitting $50.97. The stock had a trading volume of 464,382 shares. TE Connectivity has a one year low of $31.74 and a one year high of $54.19. The stock’s 50-day moving average is $51.35 and its 200-day moving average is $46.91. The company has a market cap of $21.078 billion and a P/E ratio of 17.05.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.83 by $0.05. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis.
TE Connectivity Ltd., formerly Tyco Electronics Ltd., designs and manufactures over 500,000 products that connect and protect the flow of power and data inside various products.
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