Grove Bank & Trust Takes $813,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Grove Bank & Trust bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,690 shares of the electronics maker’s stock, valued at approximately $813,000.

Several other large investors have also modified their holdings of TEL. Ameriprise Financial Inc. boosted its position in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after buying an additional 1,304,199 shares during the period. Nordea Investment Management AB bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $149,211,000. Franklin Resources Inc. increased its stake in shares of TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in 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 valued at $508,481,000 after buying an additional 694,917 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after acquiring an additional 506,754 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 1.8 %

Shares of NYSE TEL opened at $146.29 on Monday. TE Connectivity Ltd. has a 52-week low of $128.91 and a 52-week high of $159.98. The stock has a market cap of $43.76 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The firm has a 50 day moving average price of $147.70 and a 200 day moving average price of $148.78.

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

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

Analyst Upgrades and Downgrades

TEL has been the subject of a number of research analyst reports. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. Bank of America decreased 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. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. One investment 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.70.

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.