QRG Capital Management Inc. Has $15.46 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

QRG Capital Management Inc. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.3% during 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 period. QRG Capital Management Inc.’s holdings in TE Connectivity were worth $15,464,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the 4th quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter valued at approximately $44,000. Hilltop National Bank bought a new stake in TE Connectivity during the 4th quarter valued at approximately $55,000. Deseret Mutual Benefit Administrators bought a new stake in TE Connectivity during the 4th quarter valued at approximately $57,000. Finally, Webster Bank N. A. bought a new stake in TE Connectivity during the 4th quarter valued at approximately $61,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TEL. Robert W. Baird increased 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. Wells Fargo & Company increased their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America increased their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Trading Down 0.5 %

Shares of TEL opened at $151.89 on Friday. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $147.66 and a 200-day simple moving average of $148.66. The stock has a market cap of $45.32 billion, a PE ratio of 24.26, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm posted $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal 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.