CNB Bank purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,855 shares of the electronics maker's stock, valued at approximately $694,000.
Several other hedge funds have also added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. boosted its stake in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 245 shares during the period. Hilltop National Bank bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $55,000. Finally, Vestor Capital LLC acquired a new position in shares of TE Connectivity during the third quarter worth about $66,000. Institutional investors and hedge funds own 91.43% of the company's stock.
Analyst Ratings Changes
TEL has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. Hsbc Global Res lowered shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Finally, HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $160.70.
Get Our Latest Report on TE Connectivity
TE Connectivity Stock Performance
TEL traded up $2.60 on Friday, reaching $146.29. The company had a trading volume of 4,102,611 shares, compared to its average volume of 1,308,175. The company's fifty day moving average is $147.70 and its 200 day moving average is $148.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The stock has a market cap of $43.76 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $128.91 and a fifty-two week high of $159.98.
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. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the company earned $1.78 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.
TE Connectivity announced that its board has initiated a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
About TE Connectivity
(
Free Report)
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.
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