Grove Bank & Trust acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,690 shares of the electronics maker's stock, valued at approximately $813,000.
Other large investors also recently modified their holdings of the company. Dakota Community Bank & Trust NA lifted its holdings in TE Connectivity by 54.8% during the 4th quarter. Dakota Community Bank & Trust NA now owns 833 shares of the electronics maker's stock valued at $119,000 after purchasing an additional 295 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth $237,000. CNB Bank bought a new position in TE Connectivity in the fourth quarter valued at about $694,000. Procyon Advisors LLC raised its stake in shares of TE Connectivity by 10.8% during the fourth quarter. Procyon Advisors LLC now owns 1,605 shares of the electronics maker's stock worth $229,000 after buying an additional 156 shares during the last quarter. Finally, Tompkins Financial Corp boosted its stake in TE Connectivity by 87,759.0% in the fourth quarter. Tompkins Financial Corp now owns 53,594 shares of the electronics maker's stock valued at $7,662,000 after acquiring an additional 53,533 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. Bank of America dropped their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price objective on TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $160.70.
Check Out Our Latest Research Report on TEL
TE Connectivity Stock Up 1.8 %
Shares of NYSE:TEL traded up $2.60 during midday trading on Monday, hitting $146.29. The stock had a trading volume of 4,102,611 shares, compared to its average volume of 1,308,175. The company has a market cap of $43.76 billion, a P/E ratio of 14.24, a PEG ratio of 1.91 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The business's 50-day simple moving average is $147.70 and its 200-day simple moving average is $148.78. TE Connectivity Ltd. has a 12 month low of $128.91 and a 12 month high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. During the same period in the prior year, the firm earned $1.78 EPS. TE Connectivity's quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.
TE Connectivity declared that its board has approved a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are 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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