First County Bank CT Sells 230 Shares of TE Connectivity Ltd. (NYSE:TEL)

First County Bank CT cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,341 shares of the electronics maker’s stock after selling 230 shares during the quarter. First County Bank CT’s holdings in TE Connectivity were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Private Advisor Group LLC raised its holdings in shares of TE Connectivity by 45.3% during the second quarter. Private Advisor Group LLC now owns 15,549 shares of the electronics maker’s stock valued at $2,339,000 after acquiring an additional 4,850 shares in the last quarter. Savant Capital LLC boosted its stake in shares of TE Connectivity by 6.1% during the 2nd quarter. Savant Capital LLC now owns 15,155 shares of the electronics maker’s stock valued at $2,280,000 after purchasing an additional 865 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of TE Connectivity by 1,919.7% during the second quarter. Acadian Asset Management LLC now owns 95,469 shares of the electronics maker’s stock valued at $14,351,000 after buying an additional 90,742 shares during the period. Certuity LLC bought a new position in TE Connectivity in the second quarter worth about $201,000. Finally, Caprock Group LLC raised its stake in TE Connectivity by 85.9% in the second quarter. Caprock Group LLC now owns 10,530 shares of the electronics maker’s stock worth $1,584,000 after buying an additional 4,865 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TEL shares. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their target price 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. 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. Finally, Wells Fargo & Company cut 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 report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.70.

TE Connectivity Stock Up 0.1 %

TEL traded up $0.14 during trading on Tuesday, hitting $143.58. 564,485 shares of the company’s stock traded hands, compared to its average volume of 1,071,290. The stock has a market capitalization of $42.95 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.04 and a beta of 1.32. The company’s 50 day simple moving average is $149.24 and its two-hundred day simple moving average is $149.19. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. Analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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