TE Connectivity Ltd. (NYSE:TEL) CFO Heath A. Mitts Sells 53,306 Shares

TE Connectivity Ltd. (NYSE:TEL) CFO Heath A. Mitts sold 53,306 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer now owns 45,503 shares of the company’s stock, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TE Connectivity Stock Down 0.8%

NYSE:TEL opened at $161.08 on Thursday. The firm’s 50-day moving average price is $141.31 and its 200-day moving average price is $146.47. The company has a market capitalization of $47.77 billion, a PE ratio of 25.73, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. 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 earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping 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 revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 EPS. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend 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 1.76%. TE Connectivity’s dividend payout ratio is currently 62.42%.

Institutional Trading of TE Connectivity

Several institutional investors have recently bought and sold shares of the company. Ieq Capital LLC grew its position in TE Connectivity by 101.6% during the 1st quarter. Ieq Capital LLC now owns 13,304 shares of the electronics maker’s stock valued at $1,880,000 after purchasing an additional 6,705 shares during the last quarter. Ceredex Value Advisors LLC grew its position in TE Connectivity by 57.3% during the 1st quarter. Ceredex Value Advisors LLC now owns 226,850 shares of the electronics maker’s stock valued at $32,058,000 after purchasing an additional 82,600 shares during the last quarter. South Plains Financial Inc. grew its position in TE Connectivity by 43.8% during the 1st quarter. South Plains Financial Inc. now owns 1,795 shares of the electronics maker’s stock valued at $254,000 after purchasing an additional 547 shares during the last quarter. Taikang Asset Management Hong Kong Co Ltd grew its position in TE Connectivity by 43.9% during the 1st quarter. Taikang Asset Management Hong Kong Co Ltd now owns 46,775 shares of the electronics maker’s stock valued at $6,610,000 after purchasing an additional 14,275 shares during the last quarter. Finally, ICONIQ Capital LLC purchased a new stake in TE Connectivity during the 1st quarter valued at about $257,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. UBS Group reissued a “buy” rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.