Central Pacific Bank Trust Division Purchases Shares of 20,423 TE Connectivity Ltd. (NYSE:TEL)

Central Pacific Bank Trust Division acquired a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,423 shares of the electronics maker's stock, valued at approximately $2,920,000.

Several other large investors have also recently bought and sold shares of TEL. GAMMA Investing LLC lifted its stake in shares of TE Connectivity by 25.3% during the fourth quarter. GAMMA Investing LLC now owns 3,193 shares of the electronics maker's stock valued at $457,000 after acquiring an additional 644 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in TE Connectivity by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,458 shares of the electronics maker's stock worth $1,859,000 after purchasing an additional 223 shares during the last quarter. Franklin Resources Inc. lifted its position in TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after purchasing an additional 712,228 shares during the period. Tidal Investments LLC boosted its stake in shares of TE Connectivity by 24.5% in the 3rd quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker's stock valued at $3,341,000 after purchasing an additional 4,359 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of TE Connectivity by 286.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker's stock worth $2,534,000 after buying an additional 12,444 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TEL shares. Wells Fargo & Company cut their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. HSBC lowered TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Finally, Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $159.36.

TE Connectivity Stock Up 1.3 %

Shares of TE Connectivity stock traded up $1.76 on Friday, hitting $142.40. The company had a trading volume of 1,356,350 shares, compared to its average volume of 1,313,075. The stock has a 50-day moving average of $149.53 and a 200-day moving average of $149.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The firm has a market capitalization of $42.60 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 EPS. Research analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.