Goelzer Investment Management Inc. Makes New $8.66 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Goelzer Investment Management Inc. bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 60,593 shares of the electronics maker’s stock, valued at approximately $8,663,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Optas LLC boosted its position in shares of TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after buying an additional 71 shares during the period. OLD National Bancorp IN lifted its position in shares of TE Connectivity by 3.6% in the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after purchasing an additional 85 shares in the last quarter. Metis Global Partners LLC grew its position in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in TE Connectivity by 2.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after buying an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after buying an additional 117 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $154.64 on Friday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm has a 50-day moving average price of $147.49 and a two-hundred day moving average price of $148.86. The company has a market capitalization of $46.16 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on TEL shares. Truist Financial reduced their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

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.