Envestnet Asset Management Inc. Has $174.93 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Envestnet Asset Management Inc. raised its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,223,538 shares of the electronics maker's stock after acquiring an additional 67,583 shares during the period. Envestnet Asset Management Inc. owned about 0.41% of TE Connectivity worth $174,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TEL. Benjamin Edwards Inc. increased its stake in TE Connectivity by 2,193.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker's stock worth $329,000 after purchasing an additional 2,084 shares in the last quarter. HighTower Advisors LLC increased its position in shares of TE Connectivity by 28.5% during the third quarter. HighTower Advisors LLC now owns 58,803 shares of the electronics maker's stock worth $8,873,000 after acquiring an additional 13,027 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of TE Connectivity by 25.4% during the third quarter. Quantinno Capital Management LP now owns 22,382 shares of the electronics maker's stock worth $3,379,000 after acquiring an additional 4,531 shares during the period. Two Sigma Advisers LP lifted its position in TE Connectivity by 28.0% in the 3rd quarter. Two Sigma Advisers LP now owns 107,500 shares of the electronics maker's stock valued at $16,231,000 after acquiring an additional 23,500 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in TE Connectivity in the 3rd quarter worth $2,603,000. 91.43% of the stock is currently owned by institutional investors.

Remove Ads

Insider Transactions at TE Connectivity

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TEL shares. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Citigroup boosted their target price on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, UBS Group decreased their target price on shares of TE Connectivity from $188.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $163.60.

TE Connectivity Stock Performance

NYSE:TEL traded up $0.50 during mid-day trading on Friday, hitting $127.85. The stock had a trading volume of 2,465,385 shares, compared to its average volume of 1,711,520. The company's 50 day simple moving average is $144.78 and its 200 day simple moving average is $147.05. The stock has a market cap of $38.14 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.11 and a beta of 1.25. 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 Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping 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 company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the company posted $1.84 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.22%. TE Connectivity's dividend payout ratio is presently 45.37%.

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.