MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 70.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,879 shares of the electronics maker's stock after buying an additional 23,057 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in TE Connectivity were worth $7,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Wellington Management Group LLP bought a new stake in TE Connectivity during the 4th quarter valued at $909,598,000. Geode Capital Management LLC raised its holdings in TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after buying an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after buying an additional 1,702,825 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the sale, the senior vice president now directly owns 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,675 shares of company stock valued at $27,062,559. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday. UBS Group restated a "buy" rating and issued a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Truist Financial decreased their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.30.

TE Connectivity Stock Down 2.1%

Shares of NYSE:TEL traded down $3.40 during midday trading on Wednesday, reaching $159.50. The company's stock had a trading volume of 1,939,416 shares, compared to its average volume of 1,701,043. The firm has a 50 day moving average of $142.84 and a 200-day moving average of $146.80. The firm has a market capitalization of $47.30 billion, a P/E ratio of 25.48, a PEG ratio of 2.11 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 EPS. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.78%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio is 62.42%.

About TE Connectivity

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.