Central Pacific Bank Trust Division Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Central Pacific Bank Trust Division bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,423 shares of the electronics maker’s stock, valued at approximately $2,920,000.

Several other large investors also recently modified their holdings of TEL. Armstrong Advisory Group Inc. increased its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Isthmus Partners LLC bought a new position in shares of TE Connectivity in the second quarter valued at approximately $45,000. MCF Advisors LLC increased its holdings in TE Connectivity by 2,745.5% during the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 302 shares during the period. Finally, Vestor Capital LLC purchased a new stake in TE Connectivity in the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.9 %

TE Connectivity stock traded up $1.23 during trading hours on Friday, reaching $141.87. The company had a trading volume of 689,722 shares, 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. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a 50-day moving average price of $149.53 and a 200 day moving average price of $149.32. The firm has a market cap of $42.44 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 2.04 and a beta of 1.32.

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

TE Connectivity announced that its Board of Directors has authorized a share repurchase 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

TEL has been the topic of several research analyst reports. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price target on shares of 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $159.36.

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.