Envestnet Asset Management Inc. Grows Stake in TE Connectivity Ltd. $TEL

Envestnet Asset Management Inc. lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.’s holdings in TE Connectivity were worth $239,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TEL. Princeton Global Asset Management LLC purchased a new stake in shares of TE Connectivity during the second quarter worth about $26,000. Costello Asset Management INC purchased a new stake in shares of TE Connectivity during the first quarter worth about $28,000. Salomon & Ludwin LLC increased its stake in shares of TE Connectivity by 58.9% during the second quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 66 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of TE Connectivity during the first quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new position in TE Connectivity during the second quarter worth about $33,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEL shares. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $198.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 25th. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Truist Financial boosted their price target on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 24th. UBS Group boosted their price target on shares of TE Connectivity from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, The Goldman Sachs Group boosted their target price on shares of TE Connectivity from $228.00 to $263.00 and gave the company a “buy” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.00.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 23,850 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock opened at $236.82 on Tuesday. The company’s 50 day simple moving average is $215.78 and its 200-day simple moving average is $184.78. The company has a market capitalization of $69.98 billion, a price-to-earnings ratio of 49.03, a price-to-earnings-growth ratio of 2.54 and a beta of 1.26. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year 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.

TE Connectivity Dividend Announcement

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

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.