QRG Capital Management Inc. Buys 3,432 Shares of TE Connectivity Ltd. (NYSE:TEL)

QRG Capital Management Inc. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 108,161 shares of the electronics maker's stock after acquiring an additional 3,432 shares during the quarter. QRG Capital Management Inc.'s holdings in TE Connectivity were worth $15,464,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its stake in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after purchasing an additional 9,670 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock worth $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock worth $989,000 after buying an additional 6,169 shares during the period. Waverton Investment Management Ltd raised its holdings in TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock valued at $213,089,000 after buying an additional 106,688 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in TE Connectivity during the 4th quarter valued at $2,920,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on TEL shares. Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $167.00.

TE Connectivity Stock Down 2.2 %

Shares of NYSE:TEL traded down $3.43 during midday trading on Monday, reaching $150.60. The company's stock had a trading volume of 1,587,987 shares, compared to its average volume of 1,641,104. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $147.87 and a 200-day moving average of $148.76. The firm has a market capitalization of $44.93 billion, a P/E ratio of 24.06, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. The business's revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

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.