Galvin Gaustad & Stein LLC Has $753,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Galvin Gaustad & Stein LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,265 shares of the electronics maker’s stock after buying an additional 501 shares during the period. Galvin Gaustad & Stein LLC’s holdings in TE Connectivity were worth $753,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Ameriprise Financial Inc. raised its position in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares in the last quarter. Nordea Investment Management AB acquired a new position in TE Connectivity in the fourth quarter worth about $149,211,000. Franklin Resources Inc. raised its position in TE Connectivity by 31.1% in 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 in the last quarter. EdgePoint Investment Group Inc. raised its position in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the subject of several recent research reports. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group decreased their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.73.

TE Connectivity Stock Performance

NYSE TEL opened at $154.02 on Thursday. The firm has a 50-day moving average price of $147.43 and a two-hundred day moving average price of $148.80. The company has a market capitalization of $45.97 billion, a P/E ratio of 15.09, a P/E/G ratio of 2.02 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $133.57 and a 12-month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3,916,310.63 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $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 has authorized a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.