Meyer Handelman Co. Has $14.53 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Meyer Handelman Co. lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 101,640 shares of the electronics maker’s stock after acquiring an additional 9,175 shares during the period. Meyer Handelman Co.’s holdings in TE Connectivity were worth $14,531,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. raised its position in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Hilltop National Bank bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $55,000. Vestor Capital LLC bought a new position in shares of TE Connectivity during the 3rd quarter worth approximately $66,000. Finally, Ashton Thomas Securities LLC acquired a new stake in TE Connectivity in the 3rd quarter valued at $75,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Bank of America cut their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company cut their target price on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. Finally, 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 report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.70.

TE Connectivity Stock Up 1.1 %

NYSE:TEL opened at $142.75 on Wednesday. The stock’s fifty day moving average price is $148.33 and its two-hundred day moving average price is $148.88. The company has a market cap of $42.71 billion, a price-to-earnings ratio of 13.90, a P/E/G 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 issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current 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 shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.