TE Connectivity Ltd. (NYSE:TEL) Director Mark Trudeau Sells 7,044 Shares

TE Connectivity Ltd. (NYSE:TEL) Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TE Connectivity Stock Performance

NYSE TEL opened at $142.80 on Tuesday. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The company has a fifty day moving average of $142.56 and a 200-day moving average of $136.46. The company has a market capitalization of $44.38 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45.

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

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is currently 21.59%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TEL. JPMorgan Chase & Co. dropped their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus raised their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Truist Financial upped their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Jefferies Financial Group started coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Robert W. Baird lowered their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $153.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of TE Connectivity during the 4th quarter valued at $693,985,000. Qube Research & Technologies Ltd purchased a new stake in TE Connectivity during the third quarter valued at about $165,640,000. First Trust Advisors LP grew its stake in shares of TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock valued at $301,151,000 after buying an additional 1,289,230 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of TE Connectivity by 1,000.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after buying an additional 1,214,122 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after acquiring an additional 403,750 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.