TE Connectivity CEO Thomas J. Lynch Unloads 62,500 Shares (TEL)
TE Connectivity (NYSE:TEL) CEO Thomas J. Lynch sold 62,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $60.90, for a total transaction of $3,806,250.00. Following the sale, the chief executive officer now directly owns 339,365 shares in the company, valued at approximately $20,667,329. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
TE Connectivity (NYSE:TEL) traded up 0.73% on Friday, hitting $61.69. 812,072 shares of the company’s stock traded hands. TE Connectivity has a 52 week low of $44.02 and a 52 week high of $62.16. The stock’s 50-day moving average is $58.95 and its 200-day moving average is $57.0. The company has a market cap of $25.214 billion and a P/E ratio of 17.86.
TE Connectivity (NYSE:TEL) last released its earnings data on Wednesday, April 23rd. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.04. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that TE Connectivity will post $3.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, May 28th.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of TE Connectivity in a research note on Friday, May 2nd. They now have a $62.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of TE Connectivity in a research note on Thursday, April 24th. They now have a $73.00 price target on the stock. Finally, analysts at BofA Merrill Lynch upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a research note on Friday, April 11th. They now have a $70.00 price target on the stock, up previously from $60.00. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $68.40.
TE Connectivity Ltd. (NYSE:TEL), formerly Tyco Electronics Ltd.
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