TE Connectivity Ltd. (NYSE:TEL) CFO Sells $5,802,620.52 in Stock

TE Connectivity Ltd. (NYSE:TEL) CFO Heath A. Mitts sold 37,844 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the sale, the chief financial officer now owns 45,503 shares in the company, valued at $6,976,974.99. The trade was a 45.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TE Connectivity Price Performance

TE Connectivity stock opened at $162.47 on Wednesday. The stock has a market capitalization of $48.18 billion, a P/E ratio of 25.95, a P/E/G ratio of 2.11 and a beta of 1.24. The company’s fifty day moving average price is $141.11 and its 200 day moving average price is $146.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $163.39.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.75%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is 62.42%.

Analysts Set New Price Targets

A number of research firms have issued reports on TEL. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Friday, April 25th. HSBC upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. Citigroup decreased their target price on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, UBS Group reiterated a “buy” rating and issued a $163.00 price target (up previously from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC increased its position in shares of TE Connectivity by 1.4% during the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker’s stock worth $703,000 after purchasing an additional 68 shares in the last quarter. Vista Investment Management boosted its stake in TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock worth $1,891,000 after purchasing an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of TE Connectivity by 2.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock worth $534,000 after buying an additional 75 shares in the last quarter. Modera Wealth Management LLC raised its position in shares of TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after buying an additional 78 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

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.