Farmers Trust Co. Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Farmers Trust Co. purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,527 shares of the electronics maker’s stock, valued at approximately $361,000.

Several other hedge funds have also recently bought and sold shares of TEL. Nordea Investment Management AB purchased a new position in shares of TE Connectivity in the fourth quarter valued at $149,211,000. Central Pacific Bank Trust Division acquired a new position in TE Connectivity during the fourth quarter worth about $2,920,000. GAMMA Investing LLC lifted its holdings in shares of TE Connectivity by 25.3% in the fourth quarter. GAMMA Investing LLC now owns 3,193 shares of the electronics maker’s stock valued at $457,000 after purchasing an additional 644 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of TE Connectivity by 1.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,458 shares of the electronics maker’s stock valued at $1,859,000 after purchasing an additional 223 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.4 %

NYSE TEL traded down $0.52 during trading hours on Wednesday, hitting $143.24. The company had a trading volume of 740,919 shares, compared to its average volume of 1,160,076. The firm’s 50 day moving average is $149.06 and its 200 day moving average is $149.13. The company has a market capitalization of $42.85 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 2.04 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. 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 (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.78 EPS. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

TEL has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on 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 downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. 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 downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Finally, Bank of America dropped 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. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus target price of $160.70.

TE Connectivity Profile

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.