TE Connectivity Ltd (NYSE:TEL) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,378,500 shares, a growth of 26.3% from the July 31st total of 2,674,700 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 2.5 days.
Shares of TE Connectivity stock traded down $0.31 on Friday, hitting $96.69. 966,970 shares of the company’s stock traded hands, compared to its average volume of 1,473,655. The firm’s 50-day moving average price is $91.21 and its two-hundred day moving average price is $89.37. The stock has a market capitalization of $32.17 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. TE Connectivity has a one year low of $69.84 and a one year high of $97.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.47 and a quick ratio of 0.94.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating the consensus estimate of $1.42 by $0.08. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts forecast that TE Connectivity will post 5.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, August 22nd. TE Connectivity’s dividend payout ratio is currently 32.80%.
Several brokerages have commented on TEL. Goldman Sachs Group upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating and upped their target price for the company from $92.00 to $105.00 in a research report on Thursday, June 20th. Longbow Research cut shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price for the company. in a research report on Monday, June 17th. Wells Fargo & Co cut shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 25th. Cross Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley dropped their target price on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $92.21.
In related news, SVP Robert J. Ott sold 22,400 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $92.01, for a total value of $2,061,024.00. Following the completion of the transaction, the senior vice president now owns 39,554 shares in the company, valued at approximately $3,639,363.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Lynch sold 124,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $93.41, for a total transaction of $11,620,204.00. Following the completion of the transaction, the director now owns 290,316 shares of the company’s stock, valued at approximately $27,118,417.56. The disclosure for this sale can be found here. Insiders sold a total of 255,500 shares of company stock valued at $23,737,285 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Weaver Consulting Group bought a new stake in shares of TE Connectivity in the 1st quarter valued at $28,000. Thor Advisors LLC bought a new stake in shares of TE Connectivity in the 1st quarter valued at $26,000. Synovus Financial Corp increased its position in shares of TE Connectivity by 97.2% in the 1st quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock valued at $28,000 after buying an additional 175 shares in the last quarter. CX Institutional increased its position in shares of TE Connectivity by 220.2% in the 2nd quarter. CX Institutional now owns 365 shares of the electronics maker’s stock valued at $35,000 after buying an additional 251 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of TE Connectivity in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.
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