Fifth Third Bancorp Buys 42,409 Shares of Qnity Electronics, Inc. $Q

Key Points

• Fifth Third Bancorp boosted its Qnity Electronics stake by 274.7% in the first quarter, buying 42,409 additional shares to bring its total to 57,845 shares valued at about $6.67 million.
• Qnity Electronics recently posted better-than-expected earnings, reporting EPS of $1.08 versus estimates of $0.92, while revenue rose 17.6% year over year to $1.31 billion.
• Analysts remain bullish on the stock, with a consensus rating of Buy and an average price target of $151.78; the company also declared a quarterly dividend of $0.08 per share.

Fifth Third Bancorp raised its stake in Qnity Electronics, Inc. (NYSE:Q - Free Report) by 274.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,845 shares of the premier technology solutions leader's stock after purchasing an additional 42,409 shares during the period. Fifth Third Bancorp's holdings in Qnity Electronics were worth $6,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of Q. Vanguard Group Inc. purchased a new position in shares of Qnity Electronics in the 4th quarter worth approximately $2,226,626,000. State Street Corp purchased a new stake in Qnity Electronics during the fourth quarter valued at approximately $728,894,000. Geode Capital Management LLC acquired a new stake in Qnity Electronics in the fourth quarter valued at approximately $435,786,000. Invesco Ltd. purchased a new position in Qnity Electronics in the fourth quarter worth $385,057,000. Finally, Franklin Resources Inc. acquired a new position in shares of Qnity Electronics during the fourth quarter worth $287,519,000.

Qnity Electronics Stock Performance

Shares of Q opened at $135.55 on Friday. The stock has a 50-day moving average of $153.11 and a two-hundred day moving average of $126.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.57 and a current ratio of 2.12. The stock has a market cap of $28.38 billion and a P/E ratio of 46.58. Qnity Electronics, Inc. has a one year low of $70.50 and a one year high of $177.28.

Qnity Electronics (NYSE:Q - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The premier technology solutions leader reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.16. The firm had revenue of $1.31 billion during the quarter. Qnity Electronics's revenue was up 17.6% compared to the same quarter last year. Qnity Electronics has set its FY 2026 guidance at 3.800-4.140 EPS. As a group, research analysts predict that Qnity Electronics, Inc. will post 4.16 EPS for the current year.

Qnity Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, August 31st. Qnity Electronics's dividend payout ratio is 11.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "buy" rating and issued a $165.00 price objective on shares of Qnity Electronics in a research report on Wednesday, May 13th. Zacks Research raised Qnity Electronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. BMO Capital Markets upped their price objective on shares of Qnity Electronics from $180.00 to $185.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Mizuho increased their price objective on shares of Qnity Electronics from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft set a $180.00 price target on shares of Qnity Electronics in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $151.78.

About Qnity Electronics

Qnity Electronics Inc is a premier technology solution provider across the semiconductor value chain. Qnity Electronics Inc is based in WILMINGTON, Del.

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