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Laura Wright, a director at TE Connectivity plc (NYSE:TEL), recently sold 1,000 common shares of the company. The transaction, which took place on February 18, 2025, was executed at a weighted average price of $154.66 per share, resulting in a total sale value of $154,660. The sale comes as TEL, a $46.4 billion market cap company, trades near its 52-week high with a "GOOD" financial health rating according to InvestingPro. Following this sale, Wright retains ownership of 16,684 shares in the company.
The sale was reported in a Form 4 filing with the Securities and Exchange Commission. The price range for the shares sold was between $154.66 and $154.68 per share.
In other recent news, TE Connectivity has been active with several developments that may interest investors. The company announced its agreement to acquire Richards Manufacturing Co. for $2.3 billion, a move expected to enhance its product offerings in the U.S. energy market. Despite this significant acquisition, S&P Global maintained TE Connectivity’s ’A-’ credit rating, citing the company’s robust financial cushion and strong free operating cash flow. Earnings reports have also been a focal point, with UBS raising its price target for TE Connectivity to $188, noting a fiscal second-quarter earnings per share (EPS) of $1.95, which exceeded consensus estimates.
Baird analysts also adjusted their price target to $168, recognizing the company’s solid foundation and growth in sectors like artificial intelligence and data connectivity within the automotive industry. However, Truist Securities took a more cautious stance, lowering their price target to $163 due to foreign exchange impacts and mixed performance in the automotive sector. Despite these varied analyst perspectives, TE Connectivity continues to show resilience, with its Industrial Solutions division expected to benefit from AI-driven demand. These recent developments underscore the company’s ongoing efforts to maintain a strong market position while navigating industry challenges.
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