Private Trust Co. NA Purchases 148 Shares of TE Connectivity Ltd. (NYSE:TEL)

Private Trust Co. NA boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.7% during the third quarter, Holdings Channel reports. The firm owned 1,418 shares of the electronics maker’s stock after acquiring an additional 148 shares during the quarter. Private Trust Co. NA’s holdings in TE Connectivity were worth $214,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after buying an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can lifted its position in TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after buying an additional 347,315 shares during the period. Toronto Dominion Bank boosted its holdings in shares of TE Connectivity by 141.3% during the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after buying an additional 274,206 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its position in shares of TE Connectivity by 982.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock worth $38,602,000 after buying an additional 232,044 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.9 %

TE Connectivity stock opened at $151.15 on Friday. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The stock has a fifty day moving average of $149.28 and a 200 day moving average of $149.69. 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 $45.22 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly 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 return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the previous year, the company posted $1.78 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TEL shares. 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. The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. StockNews.com started coverage on TE Connectivity in a research report on Sunday, November 24th. They issued a “buy” rating for the company. Finally, Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.55.

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.