Saturna Capital Corp Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Saturna Capital Corp lifted its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 13,440 shares of the electronics maker’s stock after acquiring an additional 250 shares during the quarter. Saturna Capital Corp’s holdings in TE Connectivity were worth $2,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Haverford Trust Co boosted its stake in shares of TE Connectivity by 3.1% in the third quarter. Haverford Trust Co now owns 205,494 shares of the electronics maker’s stock worth $31,028,000 after buying an additional 6,245 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of TE Connectivity by 0.8% in the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock worth $22,167,000 after buying an additional 1,154 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of TE Connectivity by 17.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock worth $300,000 after buying an additional 288 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of TE Connectivity by 2.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 13,290 shares of the electronics maker’s stock worth $2,007,000 after buying an additional 342 shares during the last quarter. Finally, Waverton Investment Management Ltd boosted its stake in shares of TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after buying an additional 106,688 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $155.21 on Wednesday. TE Connectivity Ltd. has a 12 month low of $126.87 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock has a market capitalization of $47.17 billion, a P/E ratio of 14.85, a PEG ratio of 2.11 and a beta of 1.33. The business has a 50 day simple moving average of $148.14 and a two-hundred day simple moving average of $149.13.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the firm earned $1.78 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts predict that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TEL shares. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Finally, StockNews.com started coverage on TE Connectivity in a research report on Friday, November 8th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $159.55.

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.