Qnity Electronics, Inc. $Q Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Qnity Electronics, Inc. (NYSE:Q) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 447,063 shares of the premier technology solutions leader’s stock after selling 6,580 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Qnity Electronics were worth $56,214,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of Q. Oregon Public Employees Retirement Fund raised its holdings in shares of Qnity Electronics by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,004 shares of the premier technology solutions leader’s stock valued at $2,770,000 after buying an additional 77 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of Qnity Electronics by 3.4% during the first quarter. AMG National Trust Bank now owns 2,583 shares of the premier technology solutions leader’s stock worth $298,000 after buying an additional 84 shares during the period. MGO One Seven LLC boosted its stake in shares of Qnity Electronics by 0.7% during the third quarter. MGO One Seven LLC now owns 11,806 shares of the premier technology solutions leader’s stock worth $1,485,000 after buying an additional 87 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Qnity Electronics by 71.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 213 shares of the premier technology solutions leader’s stock worth $25,000 after buying an additional 89 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of Qnity Electronics by 5.4% during the third quarter. Flagship Harbor Advisors LLC now owns 1,773 shares of the premier technology solutions leader’s stock worth $223,000 after buying an additional 91 shares during the last quarter.

Insider Activity

In other Qnity Electronics news, Director Bondt De bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $138.14 per share, with a total value of $138,140.00. Following the purchase, the director owned 6,647 shares in the company, valued at approximately $918,216.58. This represents a 17.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on Q shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Qnity Electronics in a research report on Wednesday, August 5th. Weiss Ratings cut Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Truist Financial started coverage on Qnity Electronics in a research note on Wednesday, October 14th. They issued a “buy” rating and a $170.00 target price on the stock. Zacks Research downgraded Qnity Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Barclays started coverage on Qnity Electronics in a report on Monday, October 12th. They issued an “overweight” rating and a $211.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Qnity Electronics has a consensus rating of “Moderate Buy” and a consensus price target of $164.22.

Qnity Electronics Trading Up 3.2%

Shares of Qnity Electronics stock opened at $119.01 on Wednesday. The firm has a market cap of $24.90 billion and a price-to-earnings ratio of 28.14. Qnity Electronics, Inc. has a 52-week low of $72.81 and a 52-week high of $177.28. The company’s 50-day simple moving average is $121.71 and its 200-day simple moving average is $129.07. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.53.

Qnity Electronics (NYSE:Q) last announced its quarterly earnings data on Tuesday, August 4th. The premier technology solutions leader reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. Qnity Electronics had a net margin of 11.25% and a return on equity of 10.83%. The firm had revenue of $1.43 billion during the quarter. As a group, equities research analysts anticipate that Qnity Electronics, Inc. will post 4.49 earnings per share for the current year.

Qnity Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, November 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Qnity Electronics’s payout ratio is presently 11.43%.

About Qnity Electronics

Qnity Electronics, Inc is a global materials and solutions company serving the semiconductor and advanced electronics industries. The company develops and supplies materials used throughout the manufacturing process for integrated circuits, including wafer fabrication, lithography, cleaning, chemical mechanical planarization and advanced packaging.

Its product portfolio includes semiconductor-grade materials such as photoresists, dielectric materials, CMP pads and slurries, cleaners, removers and other process-enabling technologies.