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

TE Connectivity Ltd. (NYSE:TEL) Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

TE Connectivity Stock Performance

Shares of TEL stock opened at $139.43 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $142.56 and its 200 day moving average price is $136.62. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The stock has a market capitalization of $42.70 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its 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. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 7.55 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 21.59%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial boosted their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Citigroup assumed coverage on TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 target price for the company. JPMorgan Chase & Co. reduced their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. Finally, StockNews.com began coverage on TE Connectivity in a research report on Tuesday. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.50.

Hedge Funds Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in TE Connectivity by 13.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 121,567 shares of the electronics maker’s stock worth $17,656,000 after purchasing an additional 14,784 shares during the period. Ascent Wealth Partners LLC boosted its stake in shares of TE Connectivity by 16.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 8,620 shares of the electronics maker’s stock worth $1,252,000 after acquiring an additional 1,207 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TE Connectivity by 10.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,535 shares of the electronics maker’s stock worth $8,878,000 after acquiring an additional 6,084 shares in the last quarter. Mission Wealth Management LP purchased a new stake in shares of TE Connectivity during the 1st quarter worth approximately $307,000. Finally, Norden Group LLC purchased a new stake in shares of TE Connectivity during the 1st quarter worth approximately $575,000. 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.