QRG Capital Management Inc. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 8.1% during the second quarter, HoldingsChannel.com reports. The firm owned 154,278 shares of the electronics maker’s stock after buying an additional 11,519 shares during the period. QRG Capital Management Inc.’s holdings in TE Connectivity were worth $31,104,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the company. Hsbc Holdings PLC increased its holdings in TE Connectivity by 11.1% in the 4th quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker’s stock valued at $52,506,000 after buying an additional 23,074 shares during the period. Man Group plc lifted its holdings in shares of TE Connectivity by 259.9% during the 4th quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock worth $284,941,000 after acquiring an additional 904,468 shares during the period. Swedbank AB lifted its holdings in shares of TE Connectivity by 8.1% during the 4th quarter. Swedbank AB now owns 84,831 shares of the electronics maker’s stock worth $19,300,000 after acquiring an additional 6,385 shares during the period. Benjamin Edwards Inc. boosted its position in shares of TE Connectivity by 324.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker’s stock valued at $12,574,000 after acquiring an additional 47,691 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in TE Connectivity by 34.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 773,242 shares of the electronics maker’s stock valued at $175,920,000 after acquiring an additional 197,369 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Price Performance
TEL stock traded up $1.12 during trading on Wednesday, hitting $214.60. 1,453,176 shares of the stock traded hands, compared to its average volume of 2,407,003. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The stock has a market cap of $62.13 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a 50 day simple moving average of $207.38 and a 200 day simple moving average of $208.78. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42.
TE Connectivity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio is 30.59%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on TEL shares. Wall Street Zen raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research downgraded TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Robert W. Baird lowered their price objective on TE Connectivity from $240.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Barclays increased their target price on TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TE Connectivity in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $251.36.
Check Out Our Latest Stock Report on TE Connectivity
About TE Connectivity
TE Connectivity Ltd. (NYSE: TEL) designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.
The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.
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