Steven T. Merkt Sells 5,000 Shares of TE Connectivity Ltd (NYSE:TEL) Stock
TE Connectivity Ltd (NYSE:TEL) insider Steven T. Merkt sold 5,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $89.02, for a total value of $445,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
TE Connectivity stock traded up $0.92 during mid-day trading on Monday, hitting $90.91. 885,760 shares of the company’s stock traded hands, compared to its average volume of 1,490,983. TE Connectivity Ltd has a fifty-two week low of $69.84 and a fifty-two week high of $97.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.47 and a quick ratio of 0.94. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.48 and a beta of 1.20. The firm has a 50 day simple moving average of $91.67 and a two-hundred day simple moving average of $88.14.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.43 billion. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. TE Connectivity’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, research analysts anticipate that TE Connectivity Ltd will post 5.52 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on TEL shares. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Monday, April 29th. Longbow Research downgraded TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price target for the company. in a report on Monday, June 17th. HC Wainwright reaffirmed a “sell” rating on shares of TE Connectivity in a report on Friday, May 3rd. Morgan Stanley cut their price target on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Wells Fargo & Co downgraded TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $92.21.
Large investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of TE Connectivity by 102.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 515 shares of the electronics maker’s stock worth $49,000 after purchasing an additional 260 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of TE Connectivity by 854,554.5% in the first quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock worth $68,324,000 after acquiring an additional 846,009 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of TE Connectivity by 15.0% in the second quarter. Valeo Financial Advisors LLC now owns 1,535 shares of the electronics maker’s stock worth $147,000 after acquiring an additional 200 shares during the period. Cerebellum GP LLC lifted its stake in shares of TE Connectivity by 14.7% in the first quarter. Cerebellum GP LLC now owns 4,067 shares of the electronics maker’s stock worth $328,000 after acquiring an additional 520 shares during the period. Finally, Newman Dignan & Sheerar Inc. acquired a new position in shares of TE Connectivity in the second quarter worth approximately $221,000. Institutional investors own 90.99% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.
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