Piscataqua Savings Bank Takes $1.53 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Piscataqua Savings Bank purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, HoldingsChannel reports. The fund purchased 10,727 shares of the electronics maker’s stock, valued at approximately $1,534,000. TE Connectivity makes up approximately 1.3% of Piscataqua Savings Bank’s portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of TEL. State Street Corp increased its position in TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Franklin Resources Inc. grew its position in TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after purchasing an additional 9,864 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 1.5 %

Shares of TEL opened at $154.64 on Monday. The business’s 50 day moving average is $147.62 and its 200 day moving average is $148.84. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a market capitalization of $46.16 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3,916,310.63 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEL. Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday. Finally, Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $167.00.

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.