QRG Capital Management Inc. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

QRG Capital Management Inc. raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,721 shares of the electronics maker's stock after buying an additional 4,560 shares during the quarter. QRG Capital Management Inc.'s holdings in TE Connectivity were worth $15,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at $820,000. Allspring Global Investments Holdings LLC boosted its stake in TE Connectivity by 29.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 86,914 shares of the electronics maker's stock worth $12,224,000 after buying an additional 19,563 shares during the period. Congress Asset Management Co. boosted its stake in TE Connectivity by 3.5% during the fourth quarter. Congress Asset Management Co. now owns 97,044 shares of the electronics maker's stock worth $13,874,000 after buying an additional 3,309 shares during the period. Principal Securities Inc. boosted its stake in TE Connectivity by 8.8% during the fourth quarter. Principal Securities Inc. now owns 3,362 shares of the electronics maker's stock worth $481,000 after buying an additional 271 shares during the period. Finally, Allworth Financial LP boosted its stake in TE Connectivity by 27.7% during the fourth quarter. Allworth Financial LP now owns 1,444 shares of the electronics maker's stock worth $224,000 after buying an additional 313 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.0%

Shares of TEL stock traded down $0.03 during trading hours on Wednesday, reaching $163.63. 1,450,048 shares of the company's stock were exchanged, compared to its average volume of 1,708,267. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $167.94. The stock has a market cap of $48.52 billion, a PE ratio of 35.96, a PEG ratio of 2.14 and a beta of 1.23. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average price is $151.78 and its two-hundred day moving average price is $148.28.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. TE Connectivity's dividend payout ratio is currently 62.42%.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 30,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 5,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $800,000.00. Following the completion of the sale, the insider now owns 23,646 shares in the company, valued at approximately $3,783,360. This represents a 17.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,369,059 over the last quarter. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEL shares. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. Wall Street Zen downgraded TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Robert W. Baird lifted their price objective on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, UBS Group lifted their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus target price of $162.50.

TE Connectivity Company 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.