John S. Jenkins Sells 2,990 Shares of TE Connectivity Ltd. (NYSE:TEL) Stock

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TE Connectivity Ltd. (NYSE:TELGet Rating) EVP John S. Jenkins sold 2,990 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $131.97, for a total value of $394,590.30. Following the sale, the executive vice president now directly owns 18,406 shares in the company, valued at approximately $2,429,039.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

TE Connectivity Stock Down 0.1 %

TEL stock opened at $133.14 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $121.45 and a two-hundred day moving average price of $129.01. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.76 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $107.12 and a twelve month high of $166.44.

TE Connectivity (NYSE:TELGet Rating) last issued its earnings results on Wednesday, July 27th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. TE Connectivity had a return on equity of 21.98% and a net margin of 15.97%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the company posted $1.79 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts anticipate that TE Connectivity Ltd. will post 7.27 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock buyback program on Friday, June 17th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on TEL. The Goldman Sachs Group dropped their price target on TE Connectivity from $169.00 to $160.00 in a research report on Wednesday, June 1st. StockNews.com raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. Cowen dropped their target price on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a research report on Thursday, June 30th. Cowen dropped their target price on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $134.00 target price (down previously from $166.00) on shares of TE Connectivity in a research report on Thursday, July 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $148.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of TE Connectivity by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after acquiring an additional 308,580 shares during the period. BlackRock Inc. boosted its stake in TE Connectivity by 1.9% in the 1st quarter. BlackRock Inc. now owns 20,944,259 shares of the electronics maker’s stock valued at $2,743,278,000 after purchasing an additional 399,898 shares during the period. Capital World Investors boosted its stake in TE Connectivity by 17.0% in the 4th quarter. Capital World Investors now owns 20,649,105 shares of the electronics maker’s stock valued at $3,331,527,000 after purchasing an additional 2,994,368 shares during the period. State Street Corp boosted its stake in TE Connectivity by 2.6% in the 4th quarter. State Street Corp now owns 12,505,310 shares of the electronics maker’s stock valued at $2,017,607,000 after purchasing an additional 321,169 shares during the period. Finally, Norges Bank bought a new stake in TE Connectivity in the 4th quarter valued at $972,351,000. 91.16% of the stock is currently owned by institutional investors.

About TE Connectivity

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TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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