Insider Selling: TE Connectivity Ltd. (NYSE:TEL) CFO Sells $9,235,590.00 in Stock

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

TE Connectivity Trading Down 3.3 %

Shares of NYSE:TEL opened at $145.40 on Friday. The company has a market capitalization of $44.19 billion, a P/E ratio of 13.30, a P/E/G ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The business’s 50 day simple moving average is $151.29 and its 200 day simple moving average is $145.88.

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

Analyst Ratings Changes

TEL has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a report on Wednesday, July 24th. Truist Financial upped their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th. Finally, Vertical Research began coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $158.45.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC boosted its holdings 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 purchasing an additional 91 shares in the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity in the 2nd quarter valued at $30,000. Finally, Godsey & Gibb Inc. boosted its holdings 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 valued at $33,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

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.