21,418 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by First Hawaiian Bank

First Hawaiian Bank bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, Holdings Channel reports. The fund bought 21,418 shares of the electronics maker’s stock, valued at approximately $3,062,000.

Several other hedge funds have also recently added to or reduced their stakes in TEL. Private Advisor Group LLC boosted its position in shares of TE Connectivity by 45.3% in the 2nd quarter. Private Advisor Group LLC now owns 15,549 shares of the electronics maker’s stock valued at $2,339,000 after purchasing an additional 4,850 shares during the period. Savant Capital LLC lifted its position in shares of TE Connectivity by 6.1% in the 2nd quarter. Savant Capital LLC now owns 15,155 shares of the electronics maker’s stock valued at $2,280,000 after acquiring an additional 865 shares in the last quarter. Acadian Asset Management LLC boosted its stake in TE Connectivity by 1,919.7% in the 2nd quarter. Acadian Asset Management LLC now owns 95,469 shares of the electronics maker’s stock worth $14,351,000 after purchasing an additional 90,742 shares during the period. Certuity LLC purchased a new position in TE Connectivity during the 2nd quarter worth approximately $201,000. Finally, Caprock Group LLC lifted its holdings in shares of TE Connectivity by 85.9% in the second quarter. Caprock Group LLC now owns 10,530 shares of the electronics maker’s stock valued at $1,584,000 after purchasing an additional 4,865 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TEL shares. The Goldman Sachs Group dropped their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. Bank of America dropped their price objective 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. Finally, Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.70.

TE Connectivity Stock Down 0.1 %

Shares of TEL traded down $0.10 during trading hours on Wednesday, hitting $143.66. 1,376,552 shares of the company were exchanged, compared to its average volume of 1,301,533. The firm’s 50 day moving average is $149.06 and its 200-day moving average is $149.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The company has a market cap of $42.98 billion, a PE ratio of 13.99, a PEG ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company 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 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.