Mirae Asset Global Investments Co. Ltd. Raises Position in TE Connectivity Ltd. $TEL

Key Points

• Mirae Asset Global Investments increased its position in TE Connectivity by 11.3%, owning 42,418 shares worth approximately $7.08 million after acquiring an additional 4,310 shares in Q2.
• TE Connectivity has received multiple upgrades from analysts, with Citigroup raising its price target to $250, and a consensus price target now at $211.36, reflecting a generally positive outlook.
• The company announced a quarterly dividend of $0.71, set to be paid on December 12th, representing an annualized yield of 1.3%, and a dividend payout ratio of 58.80%.

Mirae Asset Global Investments Co. Ltd. increased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,418 shares of the electronics maker's stock after purchasing an additional 4,310 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in TE Connectivity were worth $7,078,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kennebec Savings Bank grew its holdings in TE Connectivity by 5.8% in the 2nd quarter. Kennebec Savings Bank now owns 4,152 shares of the electronics maker's stock valued at $700,000 after buying an additional 228 shares during the period. Naples Global Advisors LLC boosted its position in shares of TE Connectivity by 11.3% in the second quarter. Naples Global Advisors LLC now owns 17,319 shares of the electronics maker's stock worth $2,921,000 after acquiring an additional 1,760 shares during the last quarter. Trilogy Capital Inc. purchased a new stake in TE Connectivity in the second quarter valued at approximately $242,000. Ninety One North America Inc. increased its position in TE Connectivity by 2.6% during the second quarter. Ninety One North America Inc. now owns 103,777 shares of the electronics maker's stock worth $17,504,000 after purchasing an additional 2,675 shares during the last quarter. Finally, Pacific Point Advisors LLC purchased a new position in TE Connectivity during the second quarter worth approximately $219,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEL has been the subject of a number of research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of TE Connectivity in a report on Saturday, September 27th. Truist Financial raised their price objective on TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. Citigroup boosted their target price on TE Connectivity from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Wells Fargo & Company raised their price target on shares of TE Connectivity from $198.00 to $215.00 and gave the company an "equal weight" rating in a report on Thursday, September 25th. Finally, Evercore ISI boosted their price objective on shares of TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.36.

TE Connectivity Stock Performance

TE Connectivity stock opened at $221.00 on Monday. The firm has a market capitalization of $65.30 billion, a PE ratio of 45.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $224.97. The stock's 50 day moving average price is $208.91 and its 200 day moving average price is $174.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $1.91 earnings per share. The business's quarterly revenue was up 13.9% on a year-over-year basis. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 21st. TE Connectivity's dividend payout ratio is presently 58.80%.

Insiders Place Their Bets

In other news, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the sale, the insider directly owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. The trade was a 69.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the transaction, the senior vice president directly owned 4,716 shares of the company's stock, valued at $977,155.20. This represents a 29.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,545 shares of company stock valued at $25,040,158 over the last ninety days. 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.

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.