Insider Selling: Joan Wainwright Sells 126,834 Shares of TE Connectivity Stock (TEL)
TE Connectivity (NYSE:TEL) Insider Joan Wainwright sold 126,834 shares of TE Connectivity stock on the open market in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $56.44, for a total value of $7,158,510.96. Following the completion of the sale, the insider now directly owns 32,839 shares of the company’s stock, valued at approximately $1,853,433. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of TE Connectivity (NYSE:TEL) traded down 0.24% on Tuesday, hitting $57.02. The stock had a trading volume of 3,470,377 shares. TE Connectivity has a 52 week low of $38.75 and a 52 week high of $61.14. The stock has a 50-day moving average of $54.91 and a 200-day moving average of $52.26. The company has a market cap of $23.418 billion and a P/E ratio of 17.75.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.77 by $0.05. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that TE Connectivity will post $3.77 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of TE Connectivity from $61.00 to $67.00 in a research note to investors on Thursday, January 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Cross Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note to investors on Thursday, January 23rd. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of TE Connectivity from a “conviction-buy” rating to a “buy” rating in a research note to investors on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.00.
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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