Cypress Capital Group Invests $738,000 in TE Connectivity Ltd. (NYSE:TEL)

Cypress Capital Group purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,162 shares of the electronics maker’s stock, valued at approximately $738,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its stake 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 buying an additional 268,837 shares during the last quarter. Geode Capital Management LLC raised its stake in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after purchasing an additional 75,658 shares during the last quarter. Bank of New York Mellon Corp raised its stake in TE Connectivity by 15.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock valued at $536,083,000 after purchasing an additional 488,680 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake 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 valued at $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the subject of several analyst reports. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $167.00.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Up 2.0 %

Shares of NYSE:TEL opened at $150.95 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The stock has a market capitalization of $45.03 billion, a P/E ratio of 24.11, a PEG ratio of 2.11 and a beta of 1.32. The stock has a 50-day simple moving average of $148.17 and a 200-day simple moving average of $148.78.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

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.