Hilltop National Bank Makes New $55,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

Hilltop National Bank purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 382 shares of the electronics maker’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. State Street Corp increased its stake in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the period. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 1,304,199 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 worth $899,681,000 after purchasing an additional 75,658 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 worth $469,113,000 after purchasing an additional 223,842 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEL. Wells Fargo & Company lowered their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. 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 lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research note on Thursday, October 31st. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.70.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $140.91 on Friday. The firm has a fifty day moving average of $148.64 and a two-hundred day moving average of $148.98. The stock has a market capitalization of $42.15 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 2.04 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $4 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its board has initiated a share buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.