Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. TE Connectivity Ltd shares valued at $713,796 were sold by Kroeger Shadrak W on Mar 01 ’24. At $142.76 per share, Kroeger Shadrak W sold 5,000 shares. The insider’s holdings dropped to 25,976 shares worth approximately $3.76 million following the completion of this transaction.
Also, MERKT STEVEN T sold 99,777 shares, netting a total of over 14,367,888 in proceeds. Following the sale of shares at $144.00 each, the insider now holds 30,459 shares.
Before that, CURTIN TERRENCE R had sold 15,772 shares from its account. In a trade valued at $2,228,110, the Chief Exec. Officer & Director traded TE Connectivity Ltd shares for $141.27 each. Upon closing the transaction, the insider’s holdings decreased to 15,772 shares, worth approximately $7.97 million.
As published in their initiating research note from Jefferies on April 09, 2024, TE Connectivity Ltd [TEL] has been a Buy and the price target has been revised to $180. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in early January. As of December 15, 2023, Wells Fargo has initiated its “an Equal weight” rating for TEL. Earlier on October 06, 2023, TD Cowen upgraded its rating. Their new recommendation was “an Outperform” for TEL stock which previously was a “a Market perform”.
Analyzing TEL Stock Performance
During the last five days, there has been a drop of approximately -0.51%. Over the course of the year, TE Connectivity Ltd shares have jumped approximately 3.16%. Shares of the company reached a 52-week high of $147.98 on 04/09/24 and a 52-week low of $128.52 on 01/17/24. A 50-day SMA is recorded $142.64, while a 200-day SMA reached $134.59. Nevertheless, trading volume fell to 2.74 million shares from 1.54 million shares the previous day.
Support And Resistance Levels for TE Connectivity Ltd (TEL)
According to the 24-hour chart, there is a support level at 143.92, which, if violated, would cause prices to drop to 142.90. In the upper region, resistance lies at 146.20. The next price resistance is at 147.46. RSI (Relative Strength Index) is 54.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.59, which suggests the price will increase in the coming days. Percent R is at 46.47%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is TE Connectivity Ltd subject to short interest?
Stocks of TE Connectivity Ltd saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.51 million shares to 2.98 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.49 million shares. A decline of -17.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.42 of the overall float, the days-to-cover ratio (short ratio) decline to 1.42.
