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

Charles Schwab Investment Management Inc. grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 1,762,099 shares of the electronics maker’s stock after purchasing an additional 9,864 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in TE Connectivity were worth $266,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the second quarter worth about $30,000. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Bank & Trust Co purchased a new position in TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC lifted its position in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TEL shares. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. StockNews.com started coverage on TE Connectivity in a research report on Saturday, November 16th. They issued a “buy” rating for the company. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

TEL stock opened at $152.26 on Friday. The stock’s 50 day moving average price is $148.96 and its 200 day moving average price is $149.52. The firm has a market cap of $45.55 billion, a P/E ratio of 14.83, a PEG ratio of 2.04 and a beta of 1.33. 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 1 year low of $128.52 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the business earned $1.78 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts expect 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 stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is 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.