CNB Bank Takes $694,000 Position in TE Connectivity Ltd. (NYSE:TEL)

CNB Bank bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,855 shares of the electronics maker’s stock, valued at approximately $694,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Optas LLC increased its holdings in shares of TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 71 shares in the last quarter. OLD National Bancorp IN grew its position in TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after purchasing an additional 85 shares during the last quarter. Metis Global Partners LLC increased its stake in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after buying an additional 108 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of TE Connectivity by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after buying an additional 117 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.9 %

TE Connectivity stock opened at $145.01 on Friday. 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 firm has a 50 day moving average price of $148.11 and a 200 day moving average price of $148.84. TE Connectivity Ltd. has a fifty-two week low of $128.91 and a fifty-two week high of $159.98. The company has a market capitalization of $43.38 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.91 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted 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 net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

TEL has been the subject of a number of research analyst reports. HSBC lowered 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. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target 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.