Fiduciary Alliance LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Fiduciary Alliance LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, Holdings Channel.com reports. The firm purchased 8,986 shares of the electronics maker’s stock, valued at approximately $1,285,000.

Other hedge funds have also added to or reduced their stakes in the company. Czech National Bank increased its stake in shares of TE Connectivity by 4.8% in the 4th quarter. Czech National Bank now owns 64,865 shares of the electronics maker’s stock valued at $9,274,000 after purchasing an additional 2,954 shares during the last quarter. Graypoint LLC grew its position in TE Connectivity by 9.9% in the fourth quarter. Graypoint LLC now owns 1,481 shares of the electronics maker’s stock valued at $212,000 after acquiring an additional 134 shares during the last quarter. Hilltop National Bank acquired a new position in TE Connectivity during the fourth quarter worth about $55,000. ST Germain D J Co. Inc. lifted its holdings in shares of TE Connectivity by 688.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 725 shares of the electronics maker’s stock worth $104,000 after acquiring an additional 633 shares during the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $3,062,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 0.2 %

TE Connectivity stock opened at $141.16 on Tuesday. The firm has a market cap of $42.23 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 2.04 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. 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 $148.46 and a two-hundred day moving average price of $148.93.

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

TE Connectivity announced that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TEL shares. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average 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.