Envestnet Asset Management Inc. Has $184.24 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

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

Several other institutional investors and hedge funds have also made changes to their positions in TEL. Wellington Management Group LLP acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $909,598,000. Vanguard Group Inc. lifted its position in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Norges Bank purchased a new stake in TE Connectivity during the 4th quarter worth about $508,199,000. Clearbridge Investments LLC raised its stake in TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $127,351,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TEL shares. Truist Financial reduced their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen cut TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. UBS Group increased their target price on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Citigroup lowered their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and an average target price of $163.90.

TE Connectivity Stock Performance

TEL traded up $0.20 during trading hours on Wednesday, hitting $172.63. The company's stock had a trading volume of 1,586,234 shares, compared to its average volume of 1,710,373. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $182.39. The company has a 50-day simple moving average of $162.19 and a 200 day simple moving average of $150.25. The firm has a market capitalization of $51.19 billion, a PE ratio of 37.94, a PEG ratio of 2.24 and a beta of 1.23.

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

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is currently 62.42%.

Insider Buying and Selling

In related news, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the sale, the senior vice president directly owned 5,927 shares in the company, valued at $948,320. The trade was a 34.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer directly owned 45,503 shares of the company's stock, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,775 shares of company stock worth $29,596,059. 0.90% of the stock is owned by corporate insiders.

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.