Envestnet Portfolio Solutions Inc. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 29.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,473 shares of the electronics maker's stock after selling 16,478 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in TE Connectivity were worth $5,578,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its holdings in shares of TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after buying an additional 841 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in TE Connectivity by 128.4% during the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock valued at $2,219,000 after acquiring an additional 8,728 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of TE Connectivity by 48.8% during the fourth quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock worth $160,000 after acquiring an additional 368 shares in the last quarter. RWC Asset Management LLP bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $18,702,000. Finally, Waverton Investment Management Ltd grew its holdings in shares of TE Connectivity by 4.7% during the 4th quarter. Waverton Investment Management Ltd now owns 1,477,981 shares of the electronics maker's stock valued at $211,373,000 after purchasing an additional 66,933 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
TE Connectivity Trading Down 0.4%
Shares of NYSE TEL traded down $0.59 during midday trading on Friday, hitting $163.19. 2,765,138 shares of the company traded hands, compared to its average volume of 1,705,663. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $167.94. The firm has a market cap of $48.40 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.13 and a beta of 1.23. The stock has a 50-day moving average price of $153.80 and a 200 day moving average price of $148.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51.
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 for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.
Insider Transactions at TE Connectivity
In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock valued at $27,369,059 in the last three months. 0.90% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
TEL has been the topic of a number of recent research reports. UBS Group raised their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Wells Fargo & Company raised their price target on TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research note on Thursday, April 24th. Citigroup decreased their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Five equities 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 presently has an average rating of "Moderate Buy" and a consensus target price of $162.50.
Check Out Our Latest Research Report on TEL
TE Connectivity Profile
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Free Report)
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.
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