TE Connectivity Ltd. $TEL Shares Sold by Saturna Capital Corp

Saturna Capital Corp cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 46.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock worth $8,741,226,000 after purchasing an additional 168,142 shares during the last quarter. State Street Corp grew its holdings in TE Connectivity by 0.6% during the fourth quarter. State Street Corp now owns 13,105,219 shares of the electronics maker’s stock worth $2,981,572,000 after acquiring an additional 76,292 shares during the period. Geode Capital Management LLC grew its holdings in TE Connectivity by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock worth $1,425,669,000 after acquiring an additional 161,967 shares during the period. Bank of America Corp DE raised its position in TE Connectivity by 27.5% during the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after acquiring an additional 1,352,152 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in TE Connectivity by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock valued at $1,001,907,000 after acquiring an additional 144,353 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE:TEL opened at $209.02 on Wednesday. The stock has a 50 day moving average of $205.72 and a two-hundred day moving average of $215.53. TE Connectivity Ltd. has a 12 month low of $177.21 and a 12 month high of $252.56. The firm has a market cap of $61.01 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42.

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

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.78 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is presently 31.87%.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider owned 25,976 shares of the company’s stock, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TEL has been the topic of several recent research reports. The Goldman Sachs Group set a $286.00 price objective on TE Connectivity in a research report on Wednesday, April 22nd. Truist Financial decreased their target price on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Jefferies Financial Group raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Evercore reaffirmed an “in-line” rating and issued a $230.00 price objective on shares of TE Connectivity in a report on Monday, June 22nd. Finally, Citigroup decreased their price objective on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. One equities 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.31.

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.