TE Connectivity Ltd (NYSE:TEL) insider Steven T. Merkt sold 10,684 shares of TE Connectivity stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.94, for a total value of $1,099,810.96. Following the sale, the insider now owns 1,983 shares of the company’s stock, valued at $204,130.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
TE Connectivity Ltd (NYSE:TEL) traded down $0.33 during mid-day trading on Thursday, hitting $101.44. The company had a trading volume of 417,294 shares, compared to its average volume of 1,982,897. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. The company has a market capitalization of $36,002.17, a P/E ratio of 29.34, a P/E/G ratio of 1.71 and a beta of 1.11. TE Connectivity Ltd has a 12-month low of $71.93 and a 12-month high of $108.23.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. analysts predict that TE Connectivity Ltd will post 5.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.58%. TE Connectivity’s payout ratio is currently 46.24%.
TE Connectivity announced that its board has authorized a stock repurchase plan on Friday, December 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in TEL. Janus Henderson Group PLC grew its stake in TE Connectivity by 17.7% in the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock valued at $685,033,000 after purchasing an additional 1,239,920 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in TE Connectivity by 279.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,647,497 shares of the electronics maker’s stock valued at $156,578,000 after purchasing an additional 1,213,860 shares during the last quarter. Boston Partners grew its stake in TE Connectivity by 8.1% in the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock valued at $1,032,298,000 after purchasing an additional 934,796 shares during the last quarter. BlackRock Inc. grew its stake in TE Connectivity by 4.2% in the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock valued at $1,656,081,000 after purchasing an additional 694,901 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in TE Connectivity by 1,777.2% in the third quarter. Asset Management One Co. Ltd. now owns 545,390 shares of the electronics maker’s stock valued at $45,300,000 after purchasing an additional 516,337 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.
Several research firms have recently weighed in on TEL. Royal Bank of Canada decreased their target price on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 target price on shares of TE Connectivity in a research report on Wednesday, January 24th. SunTrust Banks reiterated a “hold” rating and set a $102.00 target price on shares of TE Connectivity in a research report on Thursday, January 25th. Citigroup lifted their target price on TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley lifted their target price on TE Connectivity from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $137.09.
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About TE Connectivity
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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