Insider Selling: TE Connectivity Ltd. (NYSE:TEL) CFO Sells 59,700 Shares of Stock

TE Connectivity Ltd. (NYSE:TEL) CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

TE Connectivity Price Performance

Shares of TEL stock traded down $4.25 on Thursday, reaching $150.08. 735,559 shares of the company were exchanged, compared to its average volume of 1,954,980. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 2.08 and a beta of 1.33. The business has a 50-day moving average price of $151.39 and a 200 day moving average price of $145.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share. Equities research analysts forecast that TE Connectivity Ltd. will post 7.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC grew its position in shares of TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc boosted its stake in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity during the 2nd quarter worth $30,000. Finally, Godsey & Gibb Inc. lifted its stake in shares of TE Connectivity by 103.6% in the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 114 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on TE Connectivity in a research report on Saturday, July 27th. They issued a “buy” rating on the stock. Vertical Research began coverage on TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective on the stock. Jefferies Financial Group began coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Finally, HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $158.45.

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.