Insider Selling: TE Connectivity Ltd. (NYSE:TEL) Insider Sells 25,000 Shares of Stock

TE Connectivity Ltd. (NYSE:TEL) insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

TE Connectivity Trading Up 2.0 %

TE Connectivity stock opened at $150.95 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $148.17 and its two-hundred day simple moving average is $148.78. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a market capitalization of $45.03 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TEL. Farther Finance Advisors LLC lifted its holdings in shares of TE Connectivity by 20.9% during the third quarter. Farther Finance Advisors LLC now owns 1,611 shares of the electronics maker’s stock valued at $243,000 after purchasing an additional 278 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of TE Connectivity by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 221,089 shares of the electronics maker’s stock valued at $33,382,000 after purchasing an additional 6,666 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in TE Connectivity by 17.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 148,550 shares of the electronics maker’s stock valued at $22,430,000 after acquiring an additional 21,569 shares during the period. Vestor Capital LLC bought a new position in TE Connectivity in the third quarter valued at about $66,000. Finally, National Pension Service lifted its holdings in TE Connectivity by 12.3% in the third quarter. National Pension Service now owns 773,489 shares of the electronics maker’s stock valued at $116,789,000 after acquiring an additional 84,794 shares during the period. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Citigroup lifted their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $167.00.

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.