TE Connectivity Ltd (NYSE:TEL) insider Thomas J. Lynch sold 76,184 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of TE Connectivity Ltd (NYSE TEL) traded down $0.30 on Thursday, hitting $98.52. The stock had a trading volume of 2,254,100 shares, compared to its average volume of 1,832,686. The firm has a market cap of $34,640.00, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. TE Connectivity Ltd has a one year low of $67.47 and a one year high of $99.94.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. sell-side analysts forecast that TE Connectivity Ltd will post 5.27 EPS for the current year.
TE Connectivity declared that its Board of Directors has initiated a share buyback program on Friday, December 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
TEL has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $98.00 price objective on shares of TE Connectivity in a report on Friday, November 3rd. Royal Bank of Canada cut their price objective on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Robert W. Baird initiated coverage on TE Connectivity in a report on Friday, November 3rd. They issued an “outperform” rating and a $105.00 price objective on the stock. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Wells Fargo & Co initiated 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. TE Connectivity has a consensus rating of “Buy” and a consensus target price of $159.38.
Institutional investors and hedge funds have recently bought and sold shares of the company. AllSquare Wealth Management LLC bought a new stake in shares of TE Connectivity in the 3rd quarter worth $113,000. Northwestern Mutual Wealth Management Co. raised its position in shares of TE Connectivity by 38.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 384 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of TE Connectivity during the second quarter worth $126,000. Harfst & Associates Inc. raised its position in shares of TE Connectivity by 46.2% during the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 544 shares during the period. Finally, Robecosam AG acquired a new stake in shares of TE Connectivity during the third quarter worth $155,000. 90.02% of the stock is currently owned by institutional investors.
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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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