TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 29.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its position in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new position in TE Connectivity during the fourth quarter worth about $43,000. Global X Japan Co. Ltd. purchased a new position in TE Connectivity during the first quarter worth about $47,000. Deseret Mutual Benefit Administrators purchased a new position in TE Connectivity during the fourth quarter worth about $57,000. Finally, Loomis Sayles & Co. L P boosted its stake in TE Connectivity by 32.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock worth $71,000 after buying an additional 123 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Thursday, April 24th. Robert W. Baird increased their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Citigroup lowered their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus target price of $162.50.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president now owns 24,625 shares of the company’s stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Heath A. Mitts sold 37,844 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at approximately $6,976,974.99. This trade represents a 45.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,369,059 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Trading Down 0.4%

NYSE TEL opened at $163.19 on Friday. The firm has a 50 day simple moving average of $153.80 and a 200-day simple moving average of $148.52. 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 Ltd. has a one year low of $116.30 and a one year high of $167.94. The firm has a market cap of $48.40 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.14 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.74%. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

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.