Insider Selling: TE Connectivity Ltd. (NYSE:TEL) Director Sells $996,655.56 in Stock

TE Connectivity Ltd. (NYSE:TEL) Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

TE Connectivity Trading Down 1.4 %

Shares of NYSE:TEL opened at $139.43 on Thursday. The business’s 50-day moving average is $142.56 and its 200 day moving average is $136.62. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm has a market capitalization of $42.70 billion, a P/E ratio of 12.76, a P/E/G ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company posted $1.65 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts predict that TE Connectivity Ltd. will post 7.55 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TEL shares. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Stifel Nicolaus upped their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Robert W. Baird lowered their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of TE Connectivity by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 121,567 shares of the electronics maker’s stock valued at $17,656,000 after purchasing an additional 14,784 shares during the period. Ascent Wealth Partners LLC increased its holdings in shares of TE Connectivity by 16.3% in the first quarter. Ascent Wealth Partners LLC now owns 8,620 shares of the electronics maker’s stock valued at $1,252,000 after purchasing an additional 1,207 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of TE Connectivity by 10.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,535 shares of the electronics maker’s stock valued at $8,878,000 after purchasing an additional 6,084 shares during the period. Mission Wealth Management LP acquired a new position in shares of TE Connectivity in the first quarter valued at about $307,000. Finally, Norden Group LLC acquired a new position in shares of TE Connectivity in the first quarter valued at about $575,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.