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

Meyer Handelman Co. increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TEL. Armstrong Advisory Group Inc. lifted its position in shares of 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 lifted its position in 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 acquired a new stake in shares of TE Connectivity during the 4th quarter valued at $55,000. Vestor Capital LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter valued at $66,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of TE Connectivity during 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

A number of analysts recently issued reports on the company. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.70.

TE Connectivity Stock Performance

Shares of TEL opened at $142.75 on Wednesday. The company has a market capitalization of $42.71 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The company’s fifty day moving average price is $148.33 and its 200 day moving average price is $148.88.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management 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.