QRG Capital Management Inc. Has $15.93 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

QRG Capital Management Inc. lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 112,721 shares of the electronics maker’s stock after purchasing an additional 4,560 shares during the quarter. QRG Capital Management Inc.’s holdings in TE Connectivity were worth $15,930,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of TE Connectivity by 20.8% during the first quarter. Janney Montgomery Scott LLC now owns 161,132 shares of the electronics maker’s stock worth $22,771,000 after buying an additional 27,795 shares during the period. Optas LLC increased its position in shares of TE Connectivity by 9.4% during the first quarter. Optas LLC now owns 1,912 shares of the electronics maker’s stock worth $270,000 after buying an additional 165 shares during the period. Asio Capital LLC boosted its stake in TE Connectivity by 2.0% during the first quarter. Asio Capital LLC now owns 25,817 shares of the electronics maker’s stock worth $3,648,000 after acquiring an additional 514 shares in the last quarter. Brighton Jones LLC boosted its stake in TE Connectivity by 2.9% during the first quarter. Brighton Jones LLC now owns 5,904 shares of the electronics maker’s stock worth $834,000 after acquiring an additional 168 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in TE Connectivity by 7.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,705 shares of the electronics maker’s stock worth $5,470,000 after acquiring an additional 2,691 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Citigroup dropped their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Truist Financial dropped their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.50.

Insider Activity

In other news, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the completion of the transaction, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the transaction, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock valued at $27,369,059 in the last three months. Company insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.7%

Shares of TEL stock opened at $165.42 on Tuesday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $167.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a 50-day simple moving average of $151.18 and a two-hundred day simple moving average of $148.17. The company has a market capitalization of $49.05 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.11 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the firm earned $1.86 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, August 22nd. TE Connectivity’s dividend payout ratio is currently 62.42%.

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.