QRG Capital Management Inc. Boosts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

QRG Capital Management Inc. boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 24.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,729 shares of the electronics maker’s stock after buying 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 quarter.

Several other large investors also recently bought and sold shares of TEL. Price T Rowe Associates Inc. MD grew its position in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after purchasing an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can grew its position in shares of TE Connectivity by 43.0% in the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in TE Connectivity by 141.3% in the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after acquiring an additional 274,206 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TEL. Bank of America decreased their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company decreased their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Stock Up 0.1 %

TE Connectivity stock opened at $150.10 on Tuesday. TE Connectivity Ltd. has a twelve month low of $123.79 and a twelve month high of $159.98. The stock’s fifty day simple moving average is $147.89 and its 200-day simple moving average is $148.60. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $45.62 billion, a P/E ratio of 14.62, a P/E/G ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.15 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.