Caprock Group LLC Has $1.11 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Caprock Group LLC lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,786 shares of the electronics maker’s stock after selling 451 shares during the quarter. Caprock Group LLC’s holdings in TE Connectivity were worth $1,113,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the fourth quarter worth $26,000. Armstrong Advisory Group Inc. boosted its position in TE Connectivity by 208.3% during the third 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 last quarter. Wolff Wiese Magana LLC grew its holdings in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the period. Hilltop National Bank bought a new position in shares of TE Connectivity in the 4th quarter worth about $55,000. Finally, Webster Bank N. A. acquired a new position in shares of TE Connectivity in the 4th quarter valued at about $61,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 1.2 %

TEL stock opened at $148.05 on Monday. The stock’s 50 day moving average is $147.58 and its 200-day moving average is $148.63. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The firm has a market capitalization of $44.17 billion, a PE ratio of 23.65, a P/E/G ratio of 2.03 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business’s revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that TE Connectivity Ltd. will post 7.96 EPS for the current fiscal year.

TE Connectivity announced that its board has approved 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 purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Seven 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

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.