Galvin Gaustad & Stein LLC Has $719,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Galvin Gaustad & Stein LLC raised its position in TE Connectivity Ltd. (NYSE:TEL) by 12.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,764 shares of the electronics maker’s stock after purchasing an additional 510 shares during the period. Galvin Gaustad & Stein LLC’s holdings in TE Connectivity were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in TE Connectivity by 25.3% during the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after acquiring an additional 58,219 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after buying an additional 135,548 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of TE Connectivity in the second quarter valued at approximately $15,847,000. Finally, Headlands Technologies LLC grew its position in TE Connectivity by 2,037.3% during the first quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock worth $525,000 after buying an additional 3,443 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com assumed coverage on TE Connectivity in a research report on Friday. They set a “buy” rating for the company. The Goldman Sachs Group reduced 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. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. Finally, Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Down 0.1 %

Shares of NYSE:TEL opened at $155.08 on Friday. 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 Ltd. has a 52-week low of $123.79 and a 52-week high of $159.98. The company has a market capitalization of $47.13 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The company has a fifty day moving average of $148.01 and a 200-day moving average of $148.83.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The firm had revenue of $4.07 billion during 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 business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share. On average, equities analysts predict that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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.