Envestnet Asset Management Inc. Buys 80,195 Shares of TE Connectivity Ltd. (NYSE:TEL)

Envestnet Asset Management Inc. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,303,733 shares of the electronics maker's stock after acquiring an additional 80,195 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of TE Connectivity worth $184,244,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TEL. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $43,000. North Capital Inc. bought a new stake in shares of TE Connectivity during the 1st quarter valued at about $46,000. Global X Japan Co. Ltd. purchased a new position in shares of TE Connectivity during the 1st quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC raised its holdings in shares of TE Connectivity by 650.8% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after buying an additional 423 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after buying an additional 123 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 1.2%

Shares of TEL traded up $2.11 during mid-day trading on Friday, hitting $177.14. 1,542,540 shares of the company's stock traded hands, compared to its average volume of 1,713,989. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $178.10. The firm has a market capitalization of $52.53 billion, a P/E ratio of 38.93, a PEG ratio of 2.31 and a beta of 1.23. The business's 50-day moving average price is $163.83 and its 200-day moving average price is $150.83.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.60%. TE Connectivity's dividend payout ratio is presently 62.42%.

Insider Activity at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 13,100 shares of TE Connectivity stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the sale, the insider directly owned 23,657 shares in the company, valued at $4,021,690. The trade was a 35.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock valued at $29,596,059 over the last ninety days. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research reports. Truist Financial decreased their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. UBS Group raised their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. Robert W. Baird raised their price objective on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.70.

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.