TE Connectivity Ltd (NYSE:TEL) Insider Steven T. Merkt Sells 10,000 Shares

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TE Connectivity Ltd (NYSE:TEL) insider Steven T. Merkt sold 10,000 shares of TE Connectivity stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $94.46, for a total value of $944,600.00. Following the completion of the sale, the insider now owns 36,608 shares of the company’s stock, valued at $3,457,991.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of TE Connectivity stock opened at $93.30 on Friday. The company has a market capitalization of $31.18 billion, a PE ratio of 19.85, a P/E/G ratio of 1.68 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.64. The company has a 50-day simple moving average of $96.52 and a two-hundred day simple moving average of $93.29. TE Connectivity Ltd has a one year low of $79.98 and a one year high of $101.00.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.07. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.12 billion. TE Connectivity had a net margin of 12.01% and a return on equity of 17.72%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. On average, equities analysts predict that TE Connectivity Ltd will post 5.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 1.97%. TE Connectivity’s dividend payout ratio is presently 33.15%.

Institutional investors have recently made changes to their positions in the business. Usca Ria LLC bought a new position in TE Connectivity in the third quarter worth about $27,000. Fusion Family Wealth LLC increased its holdings in shares of TE Connectivity by 166.4% during the third quarter. Fusion Family Wealth LLC now owns 293 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Kistler Tiffany Companies LLC increased its holdings in shares of TE Connectivity by 100.0% during the fourth quarter. Kistler Tiffany Companies LLC now owns 322 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Advisory Alpha LLC increased its holdings in shares of TE Connectivity by 259.3% during the fourth quarter. Advisory Alpha LLC now owns 388 shares of the electronics maker’s stock valued at $38,000 after acquiring an additional 280 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in shares of TE Connectivity during the third quarter valued at about $39,000. Institutional investors and hedge funds own 90.97% of the company’s stock.

Several analysts recently weighed in on the company. SunTrust Banks restated a “hold” rating and issued a $102.00 price objective on shares of TE Connectivity in a report on Thursday, January 30th. They noted that the move was a valuation call. Wells Fargo & Co upgraded TE Connectivity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $100.00 to $112.00 in a report on Tuesday, January 14th. ValuEngine upgraded TE Connectivity from a “sell” rating to a “hold” rating in a report on Friday, December 27th. JPMorgan Chase & Co. upgraded TE Connectivity from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $98.00 to $117.00 in a report on Tuesday, January 21st. Finally, Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating and set a $97.00 price objective for the company. in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $101.79.

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 Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

Further Reading: Are sell-side analysts objective?

Insider Buying and Selling by Quarter for TE Connectivity (NYSE:TEL)

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