Hotchkis & Wiley Capital Management LLC Raises Position in TE Connectivity Ltd. (NYSE:TEL)

Hotchkis & Wiley Capital Management LLC raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,632,421 shares of the electronics maker’s stock after acquiring an additional 9,750 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.55% of TE Connectivity worth $246,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity during the second quarter worth about $30,000. Armstrong Advisory Group Inc. lifted its stake in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of TE Connectivity in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEL. Bank of America reduced their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. StockNews.com initiated coverage on TE Connectivity in a report on Sunday, November 24th. They issued a “buy” rating on the stock. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Trading Up 2.1 %

Shares of NYSE:TEL opened at $154.33 on Tuesday. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The stock has a market cap of $46.17 billion, a PE ratio of 15.03, a P/E/G ratio of 2.05 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $149.34 and a 200-day moving average of $149.70.

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

TE Connectivity announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

TE Connectivity 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.