Central Pacific Bank Trust Division Invests $2.92 Million in TE Connectivity Ltd. (NYSE:TEL)

Central Pacific Bank Trust Division purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 20,423 shares of the electronics maker’s stock, valued at approximately $2,920,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Summit Financial LLC acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at $221,000. Rhumbline Advisers boosted its stake in shares of TE Connectivity by 4.6% during the second quarter. Rhumbline Advisers now owns 365,929 shares of the electronics maker’s stock valued at $55,047,000 after purchasing an additional 16,100 shares in the last quarter. TIAA Trust National Association grew its holdings in shares of TE Connectivity by 4.7% during the second quarter. TIAA Trust National Association now owns 3,105 shares of the electronics maker’s stock worth $467,000 after purchasing an additional 140 shares during the last quarter. Founders Financial Securities LLC boosted its position in TE Connectivity by 7.1% during the 2nd quarter. Founders Financial Securities LLC now owns 2,288 shares of the electronics maker’s stock worth $344,000 after buying an additional 152 shares during the period. Finally, TD Asset Management Inc grew its holdings in TE Connectivity by 29.5% during the 2nd quarter. TD Asset Management Inc now owns 201,197 shares of the electronics maker’s stock worth $30,266,000 after acquiring an additional 45,851 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their price target 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. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Finally, HSBC downgraded shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.36.

TE Connectivity Stock Up 0.9 %

Shares of TEL stock traded up $1.23 on Friday, reaching $141.87. 689,722 shares of the company were exchanged, compared to its average volume of 970,198. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company has a 50-day moving average of $149.53 and a 200-day moving average of $149.32. The company has a market cap of $42.44 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 2.04 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98.

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

TE Connectivity announced that its board has initiated a stock 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 an indication that the company’s board of directors believes its stock is undervalued.

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.