Investors Buy TE Connectivity Ltd. (TEL) on Weakness After Insider Selling

Traders bought shares of TE Connectivity Ltd. (NYSE:TEL) on weakness during trading hours on Friday following insider selling activity. $127.68 million flowed into the stock on the tick-up and $30.55 million flowed out of the stock on the tick-down, for a money net flow of $97.13 million into the stock. Of all equities tracked, TE Connectivity had the 7th highest net in-flow for the day. TE Connectivity traded down ($0.11) for the day and closed at $95.04Specifically, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the completion of the sale, the insider now directly owns 298,851 shares in the company, valued at approximately $23,695,895.79. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph B. Donahue sold 1,238 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $93.23, for a total transaction of $115,418.74. Following the sale, the chief operating officer now owns 52,134 shares of the company’s stock, valued at $4,860,452.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 679,009 shares of company stock valued at $59,194,715. Company insiders own 1.30% of the company’s stock.

Several brokerages have commented on TEL. Wells Fargo & Company began coverage on shares of TE Connectivity in a research note on Friday, November 10th. They set an “outperform” rating and a $105.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and set a $98.00 price objective on shares of TE Connectivity in a research note on Friday, November 3rd. Robert W. Baird began coverage on shares of TE Connectivity in a research note on Friday, November 3rd. They issued an “outperform” rating and a $105.00 target price for the company. Morgan Stanley boosted their target price on shares of TE Connectivity from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $150.00.

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. The firm has a market capitalization of $33,480.00, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. research analysts predict that TE Connectivity Ltd. will post 5.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio is presently 34.19%.

A number of large investors have recently bought and sold shares of the business. Moors & Cabot Inc. raised its position in TE Connectivity by 0.8% during the second quarter. Moors & Cabot Inc. now owns 2,813 shares of the electronics maker’s stock worth $222,000 after acquiring an additional 21 shares during the period. Pictet North America Advisors SA raised its position in TE Connectivity by 0.6% during the second quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock worth $293,000 after acquiring an additional 24 shares during the period. Financial Architects Inc raised its position in TE Connectivity by 2.0% during the second quarter. Financial Architects Inc now owns 2,885 shares of the electronics maker’s stock worth $227,000 after acquiring an additional 57 shares during the period. AMG Funds LLC raised its position in TE Connectivity by 0.3% during the second quarter. AMG Funds LLC now owns 26,142 shares of the electronics maker’s stock worth $2,057,000 after acquiring an additional 67 shares during the period. Finally, Veritable L.P. raised its position in TE Connectivity by 1.1% during the second quarter. Veritable L.P. now owns 8,027 shares of the electronics maker’s stock worth $632,000 after acquiring an additional 87 shares during the period. Institutional investors own 90.07% of the company’s stock.

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TE Connectivity Company Profile

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.

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