TE Connectivity Ltd. (NYSE:TEL) Short Interest Update


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TE Connectivity Ltd. (NYSE:TEL) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,960,000 shares, a drop of 21.9% from the March 31st total of 2,510,000 shares. Based on an average daily trading volume, of 1,900,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.6% of the company’s stock are sold short.

Shares of NYSE TEL traded down $0.04 during mid-day trading on Tuesday, hitting $133.29. 1,993,368 shares of the company traded hands, compared to its average volume of 1,863,844. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.37. TE Connectivity has a 1 year low of $66.61 and a 1 year high of $138.25. The stock has a market capitalization of $44.02 billion, a price-to-earnings ratio of -184.37, a PEG ratio of 2.35 and a beta of 1.41. The business has a 50 day moving average of $131.45 and a two-hundred day moving average of $122.63.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Tuesday, April 20th. The electronics maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.09. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.52 billion. TE Connectivity had a negative net margin of 1.98% and a positive return on equity of 14.86%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. As a group, research analysts anticipate that TE Connectivity will post 5.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 4th. Investors of record on Friday, February 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, February 17th. TE Connectivity’s dividend payout ratio is 45.07%.

In other TE Connectivity news, SVP Robert J. Ott sold 32,500 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $131.50, for a total value of $4,273,750.00. Following the transaction, the senior vice president now owns 37,357 shares in the company, valued at approximately $4,912,445.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Terrence R. Curtin sold 70,250 shares of the company’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $127.75, for a total transaction of $8,974,437.50. Following the completion of the transaction, the director now directly owns 125,219 shares of the company’s stock, valued at $15,996,727.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,295 shares of company stock worth $31,854,586. Company insiders own 0.80% of the company’s stock.

Large investors have recently made changes to their positions in the business. CX Institutional lifted its holdings in shares of TE Connectivity by 20.9% in the first quarter. CX Institutional now owns 498 shares of the electronics maker’s stock valued at $64,000 after purchasing an additional 86 shares in the last quarter. NEXT Financial Group Inc lifted its stake in TE Connectivity by 20.2% in the 1st quarter. NEXT Financial Group Inc now owns 524 shares of the electronics maker’s stock worth $68,000 after acquiring an additional 88 shares in the last quarter. JJJ Advisors Inc. boosted its position in TE Connectivity by 31.9% during the 1st quarter. JJJ Advisors Inc. now owns 364 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 88 shares during the period. CENTRAL TRUST Co grew its stake in TE Connectivity by 17.5% during the 1st quarter. CENTRAL TRUST Co now owns 605 shares of the electronics maker’s stock valued at $78,000 after acquiring an additional 90 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of TE Connectivity by 0.7% in the 1st quarter. Whittier Trust Co. now owns 14,495 shares of the electronics maker’s stock valued at $1,871,000 after purchasing an additional 95 shares during the period. 91.35% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on TEL shares. Jefferies Financial Group raised their price objective on TE Connectivity from $156.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. Loop Capital lifted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 23rd. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research note on Monday, April 19th. Truist upped their target price on shares of TE Connectivity from $139.00 to $1,315.00 in a research note on Thursday, April 22nd. Finally, Oppenheimer upped their price target on TE Connectivity from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $216.40.

About TE Connectivity

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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