Hotchkis & Wiley Capital Management LLC Increases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Hotchkis & Wiley Capital Management LLC boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,632,421 shares of the electronics maker’s stock after purchasing an additional 9,750 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in TE Connectivity were worth $246,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEL. HighTower Advisors LLC boosted its holdings in TE Connectivity by 28.5% during the third quarter. HighTower Advisors LLC now owns 58,803 shares of the electronics maker’s stock worth $8,873,000 after buying an additional 13,027 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of TE Connectivity by 101.0% during the third quarter. Hilltop Holdings Inc. now owns 3,907 shares of the electronics maker’s stock valued at $590,000 after acquiring an additional 1,963 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of TE Connectivity in the third quarter valued at $10,038,000. Benjamin Edwards Inc. lifted its stake in TE Connectivity by 2,193.7% in the third quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker’s stock valued at $329,000 after buying an additional 2,084 shares during the last quarter. Finally, Atom Investors LP increased its holdings in TE Connectivity by 238.1% during the 3rd quarter. Atom Investors LP now owns 4,707 shares of the electronics maker’s stock valued at $711,000 after acquiring an additional 3,315 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

TEL stock opened at $154.33 on Tuesday. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock has a market capitalization of $46.17 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 2.05 and a beta of 1.32. The company has a 50 day moving average price of $149.34 and a 200 day moving average price of $149.70.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 EPS. Analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEL. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Bank of America cut their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, StockNews.com began coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $159.55.

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.