TE Connectivity hits record high as Internet of Things sales surge

Shares of TE Connectivity, the 75,000-worker, Berwyn-based company that makes electronic connectors and sensors for auto, airline, medical-equipment and undersea-cable companies, hit $75 in trading this morning -- highest price in the ten years since the company was spun off by the former Tyco International -- after CEO Tom Lynch reported higher-than-expected quarterly sales of $3.1 billion.

Lynch, who is turning over the chief executive office to President (corrected) Terrence Curtin later this year and will stay on as chairman, cited "double digit growth in our Automotive, Commercial Transportation and Appliances business units; improvement in our Data and Devices business; and strength in Asia" for higher sales.