2,527 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Farmers Trust Co.

Farmers Trust Co. acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, Holdings Channel reports. The fund acquired 2,527 shares of the electronics maker’s stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its holdings in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after buying an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Geode Capital Management LLC boosted its holdings in TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of TE Connectivity by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after buying an additional 223,842 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL traded down $0.52 during midday trading on Wednesday, reaching $143.24. The company’s stock had a trading volume of 740,919 shares, compared to its average volume of 1,160,076. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a 50 day moving average price of $149.06 and a 200 day moving average price of $149.13. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The company 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 firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its board has authorized 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 purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEL. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. 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 research note on Wednesday, October 9th. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Finally, Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.