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.
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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