TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,691,232 shares of the electronics maker’s stock after purchasing an additional 18,934 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of TE Connectivity worth $237,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Welch & Forbes LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $211,000. Apollon Wealth Management LLC boosted its stake in shares of TE Connectivity by 60.0% in the fourth quarter. Apollon Wealth Management LLC now owns 7,730 shares of the electronics maker’s stock valued at $1,086,000 after buying an additional 2,900 shares in the last quarter. Private Advisor Group LLC boosted its position in TE Connectivity by 4.0% during the fourth quarter. Private Advisor Group LLC now owns 11,219 shares of the electronics maker’s stock worth $1,576,000 after purchasing an additional 429 shares in the last quarter. Summit Trail Advisors LLC boosted its position in TE Connectivity by 23.0% during the fourth quarter. Summit Trail Advisors LLC now owns 2,414 shares of the electronics maker’s stock worth $339,000 after purchasing an additional 451 shares in the last quarter. Finally, Spire Wealth Management boosted its position in TE Connectivity by 17.5% during the fourth quarter. Spire Wealth Management now owns 36,544 shares of the electronics maker’s stock worth $4,844,000 after purchasing an additional 5,434 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $144.80 on Thursday. The firm has a market capitalization of $44.34 billion, a P/E ratio of 13.25, a PEG ratio of 2.09 and a beta of 1.36. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $142.44 and a 200 day moving average price of $137.30.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. TE Connectivity’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts anticipate that TE Connectivity Ltd. will post 7.51 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Robert W. Baird decreased their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a research report on Wednesday. They issued a “buy” rating on the stock. Finally, Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $153.89.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by company insiders.

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.