Charles Schwab Investment Management Inc. Raises Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Charles Schwab Investment Management Inc. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,794,603 shares of the electronics maker’s stock after acquiring an additional 32,504 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in TE Connectivity were worth $256,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. increased its position in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $44,000. Hilltop National Bank purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $55,000. Finally, Deseret Mutual Benefit Administrators bought a new position in TE Connectivity in the fourth quarter worth approximately $57,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 2.0 %

TEL stock opened at $150.95 on Thursday. The firm’s fifty day moving average is $148.17 and its 200 day moving average is $148.78. The firm has a market cap of $45.03 billion, a PE ratio of 24.11, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEL has been the subject of several research reports. Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with 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 $167.00.

About TE Connectivity

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.