Envestnet Portfolio Solutions Inc. Raises Position in TE Connectivity Ltd. (NYSE:TEL)

Envestnet Portfolio Solutions Inc. grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 43.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,951 shares of the electronics maker’s stock after purchasing an additional 17,064 shares during the quarter. 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 have also bought and sold shares of TEL. Amundi purchased a new position in TE Connectivity in the 4th quarter worth approximately $159,992,000. Nordea Investment Management AB purchased a new position in TE Connectivity in the 4th quarter worth approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after purchasing an additional 722,565 shares in the last quarter. Franklin Resources Inc. lifted its stake in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEL. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. 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 report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.7 %

TE Connectivity stock opened at $146.88 on Tuesday. The firm has a 50 day moving average price of $148.60 and a 200 day moving average price of $148.45. The company has a market capitalization of $43.82 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. 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 fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly 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. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

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

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.