Mirae Asset Global Investments Co. Ltd. Purchases 11,602 Shares of TE Connectivity Ltd. $TEL

Key Points

• Mirae Asset Global Investments increased its stake in TE Connectivity by 24.6%, buying 11,602 shares to hold 58,833 shares valued at $13.385 million at the end of the quarter.
• The board approved a $3.00 billion share repurchase program (up to 5% of shares) and raised the quarterly dividend to $0.78 ($3.12 annual), signaling capital-return policies.
• Insiders have sold 42,345 shares worth $9.627 million in the past 90 days, including notable sales by SVP Reuben M. Shaffer and EVP John S. Jenkins (Jenkins cut his stake by 22%).

Mirae Asset Global Investments Co. Ltd. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 24.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,833 shares of the electronics maker's stock after acquiring an additional 11,602 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in TE Connectivity were worth $13,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV lifted its holdings in TE Connectivity by 4.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 15,898 shares of the electronics maker's stock worth $3,617,000 after buying an additional 733 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in TE Connectivity by 52.0% during the 4th quarter. Cornerstone Wealth Group LLC now owns 1,477 shares of the electronics maker's stock worth $336,000 after buying an additional 505 shares during the period. CWM LLC lifted its holdings in TE Connectivity by 9.4% during the 4th quarter. CWM LLC now owns 8,891 shares of the electronics maker's stock worth $2,023,000 after buying an additional 762 shares during the period. Childress Capital Advisors LLC lifted its holdings in TE Connectivity by 5.3% during the 4th quarter. Childress Capital Advisors LLC now owns 2,306 shares of the electronics maker's stock worth $525,000 after buying an additional 116 shares during the period. Finally, Adelphi Trust Co acquired a new position in TE Connectivity during the 4th quarter worth about $680,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Reuben M. Shaffer sold 1,425 shares of the business's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $234.23, for a total value of $333,777.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John S. Jenkins sold 6,155 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $222.81, for a total value of $1,371,395.55. Following the completion of the sale, the executive vice president directly owned 21,810 shares of the company's stock, valued at $4,859,486.10. The trade was a 22.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,345 shares of company stock valued at $9,627,260 in the last ninety days. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on TEL shares. Barclays lifted their target price on TE Connectivity from $297.00 to $302.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Jefferies Financial Group raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Zacks Research downgraded TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Monday, March 23rd. Oppenheimer lifted their target price on TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Finally, The Goldman Sachs Group dropped their price objective on TE Connectivity from $306.00 to $270.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and a consensus price target of $246.33.

TE Connectivity Stock Up 0.1%

Shares of NYSE:TEL opened at $246.38 on Monday. The company has a market capitalization of $72.30 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 1.78 and a beta of 1.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 1.07. The business's 50-day moving average is $218.00 and its 200-day moving average is $226.20. TE Connectivity Ltd. has a 1 year low of $126.53 and a 1 year high of $250.67.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The electronics maker reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.17. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.52 billion. TE Connectivity had a return on equity of 22.72% and a net margin of 11.41%.The firm's revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. TE Connectivity has set its Q2 2026 guidance at 2.650-2.650 EPS. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. TE Connectivity's dividend payout ratio (DPR) is presently 45.02%.

About TE Connectivity

TE Connectivity NYSE: TEL is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company's products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.

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