CNB Bank Acquires New Stake in TE Connectivity Ltd. (NYSE:TEL)

CNB Bank purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,855 shares of the electronics maker’s stock, valued at approximately $694,000.

Several other institutional investors have also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI bought a new position in TE Connectivity in the 2nd quarter worth approximately $203,000. E Fund Management Co. Ltd. boosted its position in shares of TE Connectivity by 37.8% during the second quarter. E Fund Management Co. Ltd. now owns 3,556 shares of the electronics maker’s stock worth $535,000 after acquiring an additional 975 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in TE Connectivity by 10.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 77,342 shares of the electronics maker’s stock valued at $12,222,000 after acquiring an additional 7,113 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in TE Connectivity by 15.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,234 shares of the electronics maker’s stock valued at $787,000 after acquiring an additional 717 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in TE Connectivity by 23.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,931 shares of the electronics maker’s stock worth $4,001,000 after purchasing an additional 5,047 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

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

TE Connectivity (NYSE:TEL) last announced 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 for the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $1.78 EPS. The business’s revenue was up .8% compared to the same quarter last year. Equities analysts predict 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 initiated 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 reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on TEL shares. Wells Fargo & Company cut their target price on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Bank of America cut their price target 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.70.

About TE Connectivity

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.