Bank of Hawaii Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Bank of Hawaii decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 19.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,666 shares of the electronics maker’s stock after selling 410 shares during the quarter. Bank of Hawaii’s holdings in TE Connectivity were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC grew its stake in TE Connectivity by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares during the period. Industrial Alliance Investment Management Inc. grew its position in shares of TE Connectivity by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,089 shares of the electronics maker’s stock valued at $303,000 after purchasing an additional 88 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of TE Connectivity by 18.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,665 shares of the electronics maker’s stock worth $1,404,000 after purchasing an additional 1,481 shares in the last quarter. California State Teachers Retirement System raised its position in shares of TE Connectivity by 5.0% during the 1st quarter. California State Teachers Retirement System now owns 483,488 shares of the electronics maker’s stock worth $70,222,000 after purchasing an additional 22,841 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of TE Connectivity by 17.4% during the 1st quarter. Tidal Investments LLC now owns 16,576 shares of the electronics maker’s stock worth $2,407,000 after purchasing an additional 2,452 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the topic of several research analyst reports. 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 report on Wednesday, October 9th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. 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 note on Tuesday, October 1st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Finally, StockNews.com started coverage on shares of TE Connectivity in a report on Sunday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of TEL stock opened at $152.67 on Tuesday. 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 market capitalization of $45.67 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The firm’s 50-day moving average is $149.10 and its two-hundred day moving average is $149.64. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98.

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

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

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.