Mirae Asset Global Investments Co. Ltd. Acquires 3,716 Shares of TE Connectivity Ltd. (NYSE:TEL)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,562 shares of the electronics maker’s stock after buying an additional 3,716 shares during the quarter. 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the 4th quarter valued at approximately $26,000. Armstrong Advisory Group Inc. lifted its stake in shares of TE Connectivity by 208.3% in 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 last quarter. Wolff Wiese Magana LLC boosted its holdings 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 valued at $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank bought a new stake in TE Connectivity during the 4th quarter worth $55,000. Finally, Webster Bank N. A. acquired a new position in TE Connectivity in the 4th quarter worth about $61,000. Institutional investors own 91.43% of the company’s stock.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction 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 owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Trading Up 0.3 %

TEL opened at $146.95 on Friday. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company’s 50-day moving average is $147.13 and its 200 day moving average is $148.42. The firm has a market capitalization of $43.84 billion, a PE ratio of 23.47, a P/E/G ratio of 2.03 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) 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 firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business’s revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd. will post 7.96 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Truist Financial reduced their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

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.