Mirae Asset Global Investments Co. Ltd. Buys 72,428 Shares of TE Connectivity Ltd. $TEL

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 72,428 shares of the electronics maker’s stock, valued at approximately $15,288,000.

Several other hedge funds have also bought and sold shares of TEL. JNBA Financial Advisors increased its position in TE Connectivity by 67.1% in the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after buying an additional 51 shares in the last quarter. Independence Bank of Kentucky purchased a new position in shares of TE Connectivity during the 3rd quarter valued at about $26,000. Center for Financial Planning Inc. lifted its position in shares of TE Connectivity by 113.6% during the 3rd quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in shares of TE Connectivity during the 2nd quarter valued at about $34,000. Finally, Fortitude Family Office LLC grew its stake in shares of TE Connectivity by 43.5% during the 3rd quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker’s stock valued at $45,000 after acquiring an additional 64 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $219.61 on Wednesday. The stock’s 50-day simple moving average is $211.66 and its 200-day simple moving average is $212.94. TE Connectivity Ltd. has a 52 week low of $190.27 and a 52 week high of $252.56. The company has a market capitalization of $63.58 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.38 and a beta of 1.15. The company has a quick ratio of 1.18, a current ratio of 1.73 and a debt-to-equity ratio of 0.38.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that TE Connectivity Ltd. will post 13.33 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. TE Connectivity’s payout ratio is currently 28.18%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. The Goldman Sachs Group lifted their price target on shares of TE Connectivity from $284.00 to $288.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Fox Advisors downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a report on Monday. Citigroup upped their price target on shares of TE Connectivity from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Wells Fargo & Company increased their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research note on Friday, September 11th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $255.50.

TE Connectivity Profile

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.