Mirae Asset Global Investments Co. Ltd. Has $5.42 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,108 shares of the electronics maker's stock after selling 4,454 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in TE Connectivity were worth $5,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SRS Capital Advisors Inc. increased its position in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter worth about $43,000. Global X Japan Co. Ltd. acquired a new position in shares of TE Connectivity during the 1st quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC raised its stake in shares of TE Connectivity by 650.8% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after acquiring an additional 423 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock worth $71,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insiders Place Their Bets

In related news, CFO Heath A. Mitts sold 53,306 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the completion of the transaction, the chief financial officer owned 45,503 shares in the company, valued at $7,244,532.63. This trade represents a 53.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president owned 5,927 shares in the company, valued at $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock valued at $29,596,059 over the last 90 days. Company insiders own 0.90% of the company's stock.

TE Connectivity Stock Performance

TEL traded up $0.88 on Thursday, hitting $174.29. 584,980 shares of the stock traded hands, compared to its average volume of 1,714,361. The business has a fifty day moving average price of $159.92 and a two-hundred day moving average price of $149.48. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $51.69 billion, a PE ratio of 38.31, a P/E/G ratio of 2.27 and a beta of 1.23. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $178.36.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. TE Connectivity's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 earnings per share. On average, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.

Analyst Ratings Changes

TEL has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Thursday, April 24th. Truist Financial cut their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Robert W. Baird raised their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.90.

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.