Fulton Bank N.A. Reduces Stake in TE Connectivity Ltd. (NYSE:TEL)

Fulton Bank N.A. lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 23.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,714 shares of the electronics maker’s stock after selling 520 shares during the quarter. Fulton Bank N.A.’s holdings in TE Connectivity were worth $245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its stake in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC lifted its stake in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the period. Vestor Capital LLC purchased a new position in shares of TE Connectivity in the 3rd quarter valued at approximately $66,000. Ashton Thomas Securities LLC purchased a new position in shares of TE Connectivity in the 3rd quarter valued at approximately $75,000. Finally, Quarry LP purchased a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $108,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TEL. Wells Fargo & Company reduced their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Bank of America reduced their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.70.

TE Connectivity Stock Performance

Shares of TEL opened at $140.91 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The firm has a market capitalization of $42.15 billion, a P/E ratio of 13.72, a PEG ratio of 2.04 and a beta of 1.32. The business has a fifty day moving average of $148.64 and a 200 day moving average of $148.98.

TE Connectivity (NYSE:TEL) last issued 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. 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 during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. TE Connectivity’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

TE Connectivity Company 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.