Heath A. Mitts Sells 37,844 Shares of TE Connectivity Ltd. (NYSE:TEL) Stock

TE Connectivity Ltd. (NYSE:TEL) CFO Heath A. Mitts sold 37,844 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $6,976,974.99. The trade was a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TE Connectivity Stock Up 0.9%

NYSE:TEL opened at $162.47 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market cap of $48.18 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company has a 50-day moving average of $141.11 and a 200 day moving average of $146.37. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $163.39.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.86 earnings per share. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. TE Connectivity’s dividend payout ratio (DPR) is currently 62.42%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Aptus Capital Advisors LLC raised its holdings in TE Connectivity by 51.6% in the first quarter. Aptus Capital Advisors LLC now owns 4,411 shares of the electronics maker’s stock worth $623,000 after purchasing an additional 1,501 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of TE Connectivity in the 1st quarter worth approximately $64,000. Freestone Capital Holdings LLC lifted its position in TE Connectivity by 3.8% during the first quarter. Freestone Capital Holdings LLC now owns 23,839 shares of the electronics maker’s stock valued at $3,369,000 after acquiring an additional 869 shares during the last quarter. Cresset Asset Management LLC lifted its position in TE Connectivity by 0.7% during the first quarter. Cresset Asset Management LLC now owns 39,239 shares of the electronics maker’s stock valued at $5,545,000 after acquiring an additional 264 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in TE Connectivity by 6.9% in the first quarter. Nations Financial Group Inc. IA ADV now owns 14,654 shares of the electronics maker’s stock valued at $2,071,000 after acquiring an additional 952 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEL has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. HSBC raised TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Thursday, April 24th. Finally, Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

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.