Envestnet Asset Management Inc. Raises Stock Position in TE Connectivity Ltd. $TEL

Envestnet Asset Management Inc. increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,418,075 shares of the electronics maker’s stock after purchasing an additional 114,342 shares during the period. Envestnet Asset Management Inc. owned 0.48% of TE Connectivity worth $239,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in shares of TE Connectivity by 2.9% during the second quarter. Brighton Jones LLC now owns 6,078 shares of the electronics maker’s stock valued at $1,025,000 after purchasing an additional 174 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of TE Connectivity during the second quarter valued at approximately $246,000. CNB Bank boosted its stake in shares of TE Connectivity by 3.9% during the second quarter. CNB Bank now owns 5,648 shares of the electronics maker’s stock valued at $953,000 after purchasing an additional 213 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of TE Connectivity by 0.8% during the second quarter. Carnegie Investment Counsel now owns 117,930 shares of the electronics maker’s stock valued at $19,891,000 after purchasing an additional 908 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of TE Connectivity by 8.6% during the second quarter. Forum Financial Management LP now owns 3,906 shares of the electronics maker’s stock valued at $659,000 after purchasing an additional 308 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of TE Connectivity stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total value of $4,841,311.50. Following the completion of the transaction, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,272,868.24. The trade was a 47.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.5%

TEL opened at $236.82 on Tuesday. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $238.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The company has a fifty day moving average of $215.78 and a two-hundred day moving average of $184.78. The stock has a market capitalization of $69.98 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 2.54 and a beta of 1.26.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.2%. TE Connectivity’s payout ratio is presently 58.80%.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEL shares. The Goldman Sachs Group raised their target price on shares of TE Connectivity from $228.00 to $263.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Bank of America raised their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $186.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Citigroup raised their target price on shares of TE Connectivity from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Barclays began coverage on shares of TE Connectivity in a research note on Tuesday, October 7th. They set an “overweight” rating and a $249.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

About TE Connectivity

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.