Bank Julius Baer & Co. Ltd Zurich Acquires 455,379 Shares of TE Connectivity Ltd. (NYSE:TEL)

Bank Julius Baer & Co. Ltd Zurich lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 238.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 646,692 shares of the electronics maker’s stock after purchasing an additional 455,379 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in TE Connectivity were worth $98,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its holdings 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 valued at $28,000 after purchasing an additional 107 shares during the last quarter. Golden State Wealth Management LLC bought a new position in TE Connectivity during the fourth quarter valued at approximately $44,000. Hilltop National Bank purchased a new stake in TE Connectivity in the fourth quarter worth approximately $55,000. Finally, Deseret Mutual Benefit Administrators bought a new stake in TE Connectivity in the 4th quarter worth approximately $57,000. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEL. Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Up 2.4 %

Shares of TEL stock opened at $150.90 on Friday. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company’s fifty day moving average price is $148.30 and its 200-day moving average price is $148.77. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $1.84 earnings per share. The business’s revenue was up .1% on a year-over-year basis. Sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

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.