First Hawaiian Bank Takes Position in TE Connectivity Ltd. (NYSE:TEL)

First Hawaiian Bank bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,418 shares of the electronics maker’s stock, valued at approximately $3,062,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after acquiring an additional 268,837 shares during the period. Ameriprise Financial Inc. boosted its position in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the period. Geode Capital Management LLC grew its position 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 valued at $899,681,000 after acquiring an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after purchasing an additional 223,842 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEL. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price 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. The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.70.

TE Connectivity Stock Performance

TE Connectivity stock traded down $0.10 during mid-day trading on Wednesday, hitting $143.66. 1,376,552 shares of the company’s stock traded hands, compared to its average volume of 1,301,533. 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 $42.98 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The firm has a 50 day moving average price of $149.06 and a 200 day moving average price of $149.13. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

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

TE Connectivity announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is 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.