First County Bank CT Sells 230 Shares of TE Connectivity Ltd. (NYSE:TEL)

First County Bank CT lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,341 shares of the electronics maker’s stock after selling 230 shares during the quarter. First County Bank CT’s holdings in TE Connectivity were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TEL. Armstrong Advisory Group Inc. grew its position in shares of TE Connectivity by 208.3% during the 3rd 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 during the period. Wolff Wiese Magana LLC raised its stake 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 buying an additional 245 shares during the period. Vestor Capital LLC purchased a new position in shares of TE Connectivity during the 3rd quarter valued at $66,000. Ashton Thomas Securities LLC bought a new position in shares of TE Connectivity during the 3rd quarter worth $75,000. Finally, Quarry LP purchased a new stake in TE Connectivity in the 2nd quarter worth about $108,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

NYSE TEL traded up $0.14 on Tuesday, reaching $143.58. 564,485 shares of the company’s stock traded hands, compared to its average volume of 1,071,290. The stock has a market cap of $42.95 billion, a PE ratio of 13.98, a P/E/G ratio of 2.04 and a beta of 1.32. 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 stock has a 50-day simple moving average of $149.24 and a 200 day simple moving average of $149.19.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. As a group, research 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 share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in 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 usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on TEL. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. 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. 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 dropped their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Bank of America decreased their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, 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.