Investors Buy Shares of TE Connectivity Ltd. (TEL) on Weakness Following Insider Selling
Investors bought shares of TE Connectivity Ltd. (NYSE:TEL) on weakness during trading hours on Friday following insider selling activity. $127.68 million flowed into the stock on the tick-up and $30.55 million flowed out of the stock on the tick-down, for a money net flow of $97.13 million into the stock. Of all stocks tracked, TE Connectivity had the 7th highest net in-flow for the day. TE Connectivity traded down ($0.11) for the day and closed at $95.04Specifically, SVP Eric Resch sold 48,950 shares of TE Connectivity stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $93.75, for a total value of $4,589,062.50. Following the completion of the sale, the senior vice president now owns 78,129 shares in the company, valued at approximately $7,324,593.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the completion of the sale, the insider now owns 429,499 shares of the company’s stock, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. Insiders have sold a total of 679,009 shares of company stock valued at $59,194,715 in the last 90 days. Insiders own 1.30% of the company’s stock.
TEL has been the subject of a number of research reports. Stifel Nicolaus reissued a “buy” rating and issued a $98.00 price target on shares of TE Connectivity in a research report on Friday, November 3rd. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Monday, September 11th. Royal Bank Of Canada reduced their target price on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Robert W. Baird initiated coverage on shares of TE Connectivity in a report on Friday, November 3rd. They issued an “outperform” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on shares of TE Connectivity in a report on Friday, November 10th. They issued an “outperform” rating and a $105.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. TE Connectivity currently has an average rating of “Buy” and an average target price of $150.00.
The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $33,480.00, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the firm posted $1.22 earnings per share. TE Connectivity’s revenue was up 3.7% on a year-over-year basis. sell-side analysts expect that TE Connectivity Ltd. will post 5.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio is currently 34.19%.
Hedge funds have recently made changes to their positions in the business. Duncker Streett & Co. Inc. increased its stake in TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after buying an additional 200 shares during the period. AllSquare Wealth Management LLC acquired a new position in TE Connectivity during the 3rd quarter valued at about $113,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 valued at $109,000 after buying an additional 384 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of TE Connectivity in the 2nd quarter worth approximately $126,000. Finally, Harfst & Associates Inc. grew its stake in shares of TE Connectivity by 46.2% in 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 during the last quarter. 90.07% of the stock is owned by institutional investors.
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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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