Saturna Capital Corp Reduces Stock Position in TE Connectivity Ltd. $TEL

Saturna Capital Corp lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 46.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,458 shares of the electronics maker’s stock after selling 5,637 shares during the quarter. Saturna Capital Corp’s holdings in TE Connectivity were worth $1,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gulf International Bank UK Ltd grew its holdings in shares of TE Connectivity by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker’s stock worth $3,412,000 after purchasing an additional 44 shares during the last quarter. MCF Advisors LLC lifted its holdings in TE Connectivity by 14.1% during the 4th quarter. MCF Advisors LLC now owns 364 shares of the electronics maker’s stock valued at $83,000 after buying an additional 45 shares in the last quarter. Webster Bank N. A. lifted its holdings in TE Connectivity by 19.1% during the 4th quarter. Webster Bank N. A. now owns 287 shares of the electronics maker’s stock valued at $65,000 after buying an additional 46 shares in the last quarter. CYBER HORNET ETFs LLC boosted its position in TE Connectivity by 5.6% in the 4th quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker’s stock valued at $202,000 after buying an additional 47 shares during the period. Finally, Harbour Investments Inc. grew its stake in TE Connectivity by 4.2% in the 4th quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker’s stock worth $271,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of research reports. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Monday. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price objective on the stock. in a research note on Thursday, April 23rd. Citigroup decreased their target price on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, UBS Group dropped their price target on TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.31.

TE Connectivity Stock Performance

TEL stock opened at $209.02 on Wednesday. TE Connectivity Ltd. has a one year low of $177.21 and a one year high of $252.56. The firm has a market cap of $61.01 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. The firm has a 50-day simple moving average of $205.72 and a two-hundred day simple moving average of $215.53.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, beating the consensus estimate of $2.70 by $0.03. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 EPS. On average, equities analysts forecast that TE Connectivity Ltd. will post 11.31 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity’s dividend payout ratio is currently 31.87%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the sale, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.