Saturna Capital Corp Buys 250 Shares of TE Connectivity Ltd. (NYSE:TEL)

Saturna Capital Corp increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,440 shares of the electronics maker’s stock after acquiring an additional 250 shares during the period. Saturna Capital Corp’s holdings in TE Connectivity were worth $2,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Haverford Trust Co lifted its stake in shares of TE Connectivity by 3.1% during the 3rd quarter. Haverford Trust Co now owns 205,494 shares of the electronics maker’s stock worth $31,028,000 after acquiring an additional 6,245 shares during the last quarter. Victory Capital Management Inc. increased its holdings in TE Connectivity by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock worth $22,167,000 after purchasing an additional 1,154 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in TE Connectivity by 17.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock worth $300,000 after purchasing an additional 288 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in TE Connectivity by 2.6% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 13,290 shares of the electronics maker’s stock worth $2,007,000 after purchasing an additional 342 shares during the period. Finally, Waverton Investment Management Ltd increased its holdings in TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 1.2 %

Shares of NYSE:TEL opened at $155.21 on Wednesday. The business’s 50-day moving average is $148.14 and its 200 day moving average is $149.13. TE Connectivity Ltd. has a 1 year low of $126.87 and a 1 year high of $159.98. The firm has a market capitalization of $47.17 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.11 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. On average, research analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several research firms have commented on TEL. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. StockNews.com assumed coverage on TE Connectivity in a report on Friday, November 8th. They set a “buy” rating on the stock. Finally, Robert W. Baird boosted 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.