TE Connectivity Ltd. (NYSE:TEL) Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 67.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,271 shares of the electronics maker’s stock after purchasing an additional 17,866 shares during the period. First Citizens Bank & Trust Co.’s holdings in TE Connectivity were worth $6,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after acquiring an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after acquiring an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd raised its position in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after acquiring an additional 106,688 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after buying an additional 12,140 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TEL opened at $154.64 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market cap of $46.16 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company’s fifty day moving average is $147.62 and its 200-day moving average is $148.88.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same quarter last year, the company posted $1.84 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 8.1 EPS for the current fiscal year.

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday. Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup lifted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

TE Connectivity 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.