Envestnet Portfolio Solutions Inc. Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Envestnet Portfolio Solutions Inc. boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 43.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,951 shares of the electronics maker’s stock after acquiring an additional 17,064 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in TE Connectivity were worth $7,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Choate Investment Advisors purchased a new stake in TE Connectivity in the fourth quarter valued at $636,000. Natixis Advisors LLC lifted its position in TE Connectivity by 4.2% in the fourth quarter. Natixis Advisors LLC now owns 159,112 shares of the electronics maker’s stock valued at $22,748,000 after acquiring an additional 6,394 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in TE Connectivity in the fourth quarter valued at $269,000. LBP AM SA lifted its position in TE Connectivity by 1.1% in the fourth quarter. LBP AM SA now owns 37,054 shares of the electronics maker’s stock valued at $5,298,000 after acquiring an additional 418 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in TE Connectivity in the fourth quarter valued at $16,705,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity 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 completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Trading Up 0.7 %

Shares of TE Connectivity stock opened at $146.88 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $148.60 and its 200-day simple moving average is $148.45. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The firm has a market cap of $43.82 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price target 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. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial reduced their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $167.00.

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.