Fulton Bank N.A. Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

Fulton Bank N.A. trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 23.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,714 shares of the electronics maker’s stock after selling 520 shares during the period. Fulton Bank N.A.’s holdings in TE Connectivity were worth $245,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its position 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 valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC lifted its position 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 valued at $39,000 after acquiring an additional 245 shares in the last quarter. Vestor Capital LLC purchased a new position in shares of TE Connectivity in the third quarter valued at about $66,000. Ashton Thomas Securities LLC purchased a new position in shares of TE Connectivity in the third quarter valued at about $75,000. Finally, Quarry LP purchased a new position in shares of TE Connectivity in the second quarter valued at about $108,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TEL. Bank of America lowered their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.70.

TE Connectivity Trading Down 1.9 %

TEL opened at $140.91 on Friday. The stock has a market cap of $42.15 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 2.04 and a beta of 1.32. The stock’s 50 day moving average price is $148.64 and its 200-day moving average price is $148.98. TE Connectivity Ltd. has a one year low of $128.52 and a one year 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.

TE Connectivity (NYSE:TEL) last released its earnings results 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 for 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 quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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.