Insider Selling: TE Connectivity Ltd. (TEL) Insider Sells $11,924,025.93 in Stock
TE Connectivity Ltd. (NYSE:TEL) insider Thomas J. Lynch sold 130,617 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the completion of the transaction, the insider now owns 429,500 shares in the company, valued at $39,209,055. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at $92.73 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. TE Connectivity Ltd. has a 1-year low of $62.22 and a 1-year high of $93.11. The firm has a market cap of $32,769.30, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. equities research analysts predict that TE Connectivity Ltd. will post 5.27 earnings per share for the current year.
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A number of research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 target price on shares of TE Connectivity in a research note on Friday. Robert W. Baird assumed coverage on shares of TE Connectivity in a research note on Friday. They issued an “outperform” rating and a $105.00 target price on the stock. Morgan Stanley raised their target price on shares of TE Connectivity from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 price target for the company in a report on Thursday. Finally, Citigroup Inc. increased their price target on shares of TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $93.50.
Large investors have recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. lifted its holdings in shares of TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after acquiring an additional 200 shares during the period. First Command Bank lifted its holdings in shares of TE Connectivity by 19.6% during the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after acquiring an additional 221 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TE Connectivity by 38.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after acquiring an additional 384 shares during the period. Acrospire Investment Management LLC bought a new position in shares of TE Connectivity during the 2nd quarter worth about $126,000. Finally, Harfst & Associates Inc. lifted its holdings in shares of 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 acquiring an additional 544 shares during the period. 90.33% of the stock is owned by institutional investors.
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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