Meyer Handelman Co. Acquires 9,175 Shares of TE Connectivity Ltd. (NYSE:TEL)

Meyer Handelman Co. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,640 shares of the electronics maker's stock after buying an additional 9,175 shares during the quarter. Meyer Handelman Co.'s holdings in TE Connectivity were worth $14,531,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the period. Nordea Investment Management AB acquired a new position in TE Connectivity in the fourth quarter worth about $149,211,000. Franklin Resources Inc. lifted its stake in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after purchasing an additional 712,228 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in TE Connectivity by 26.0% during the third 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 in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock valued at $108,212,000 after purchasing an additional 506,754 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Trading Up 0.5 %

NYSE TEL traded up $0.77 during trading hours on Wednesday, hitting $143.67. The company's stock had a trading volume of 1,121,331 shares, compared to its average volume of 1,266,314. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The firm has a market capitalization of $42.98 billion, a P/E ratio of 13.99, a PEG ratio of 2.04 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $148.33 and a 200 day moving average of $148.88.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TEL. Wells Fargo & Company decreased their price target on TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th. Hsbc Global Res lowered shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price target on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. Finally, HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus price target of $160.70.

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.