Insider Selling: TE Connectivity Ltd (TEL) Insider Sells 76,184 Shares of Stock
TE Connectivity Ltd (NYSE:TEL) insider Thomas J. Lynch sold 76,184 shares of TE Connectivity stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $94.74, for a total value of $7,217,672.16. Following the sale, the insider now directly owns 254,689 shares in the company, valued at approximately $24,129,235.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
TE Connectivity Ltd (TEL) traded up $0.28 during midday trading on Wednesday, hitting $95.32. The company’s stock had a trading volume of 1,805,700 shares, compared to its average volume of 1,342,500. The company has a market capitalization of $33,419.60, a PE ratio of 20.24, a P/E/G ratio of 1.65 and a beta of 1.08. TE Connectivity Ltd has a 52 week low of $66.20 and a 52 week high of $97.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. sell-side analysts predict that TE Connectivity Ltd will post 5.27 earnings per share for the current year.
TE Connectivity declared that its board has initiated a stock buyback plan on Friday, December 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the business. AllSquare Wealth Management LLC bought a new position in shares of TE Connectivity in the third quarter valued at $113,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TE Connectivity by 38.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after buying an additional 384 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in TE Connectivity during the 2nd quarter worth approximately $126,000. Harfst & Associates Inc. grew its position in TE Connectivity by 46.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 544 shares in the last quarter. Finally, Robecosam AG purchased a new position in TE Connectivity during the 3rd quarter worth approximately $155,000. 90.02% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on TEL shares. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank of Canada reissued a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of TE Connectivity in a report on Monday, October 30th. Stifel Nicolaus reissued a “buy” rating and set a $98.00 target price on shares of TE Connectivity in a report on Friday, November 3rd. Wells Fargo & Co started coverage on TE Connectivity in a report on Friday, November 10th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Cowen reissued an “outperform” rating and set a $110.00 target price (up previously from $95.00) on shares of TE Connectivity in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $151.93.
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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