Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,562 shares of the electronics maker’s stock after buying an additional 3,716 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in TE Connectivity were worth $6,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TEL. Brookstone Capital Management increased its stake in shares of TE Connectivity by 13.5% in the third quarter. Brookstone Capital Management now owns 2,450 shares of the electronics maker’s stock worth $370,000 after purchasing an additional 292 shares in the last quarter. Patten Group Inc. grew its stake in TE Connectivity by 10.7% in the 3rd quarter. Patten Group Inc. now owns 1,735 shares of the electronics maker’s stock valued at $262,000 after buying an additional 168 shares in the last quarter. Asio Capital LLC raised its holdings in TE Connectivity by 8.2% during the 3rd quarter. Asio Capital LLC now owns 23,892 shares of the electronics maker’s stock valued at $3,607,000 after acquiring an additional 1,809 shares during the period. Carnegie Investment Counsel lifted its position in shares of TE Connectivity by 2.5% during the third quarter. Carnegie Investment Counsel now owns 114,128 shares of the electronics maker’s stock worth $17,233,000 after acquiring an additional 2,742 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of TE Connectivity in the third quarter worth $235,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.3 %

TEL stock opened at $146.95 on Friday. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a market capitalization of $43.84 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company’s 50 day moving average price is $147.13 and its two-hundred day moving average price is $148.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts predict that TE Connectivity Ltd. will post 7.96 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

TEL has been the subject of several analyst reports. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Truist Financial reduced 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. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Company 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.