TE Connectivity Ltd. (NYSE:TEL) CFO Sells $8,486,848.26 in Stock

TE Connectivity Ltd. (NYSE:TEL) CFO Heath A. Mitts sold 53,306 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $7,244,532.63. The trade was a 53.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $163.58 on Friday. The firm has a market capitalization of $48.51 billion, a P/E ratio of 26.13, a PEG ratio of 2.11 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $141.62 and a 200 day moving average price of $146.56. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $163.61.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.74%. TE Connectivity’s payout ratio is 62.42%.

Analysts Set New Price Targets

A number of research firms have weighed in on TEL. Truist Financial lowered their target price on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.50.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its holdings in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Costello Asset Management INC purchased a new position in shares of TE Connectivity during the first quarter worth $28,000. Millstone Evans Group LLC purchased a new position in shares of TE Connectivity during the first quarter worth $32,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of TE Connectivity during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.