TE Connectivity Ltd. (NYSE:TEL) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 24.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,729 shares of the electronics maker’s stock after acquiring an additional 20,726 shares during the period. QRG Capital Management Inc.’s holdings in TE Connectivity were worth $15,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. lifted its position in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC increased its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 0.1 %

TEL stock opened at $150.10 on Tuesday. The company has a market cap of $45.62 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.04 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $147.89 and a 200-day simple moving average of $148.60. TE Connectivity Ltd. has a 52 week low of $123.79 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.15 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company cut their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $159.55.

About TE Connectivity

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.