Hotchkis & Wiley Capital Management LLC Has $246.48 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Hotchkis & Wiley Capital Management LLC increased its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned approximately 0.55% of TE Connectivity worth $246,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TEL. Ameriprise Financial Inc. increased its position in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock valued at $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. boosted its position in TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock valued at $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can boosted its holdings in TE Connectivity by 43.0% in the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker's stock worth $174,955,000 after acquiring an additional 347,315 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of TE Connectivity by 141.3% in the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker's stock worth $70,445,000 after purchasing an additional 274,206 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in TE Connectivity by 982.6% during the third quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker's stock valued at $38,602,000 after acquiring an additional 232,044 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Down 1.6 %

NYSE TEL traded down $2.47 during trading hours on Tuesday, reaching $151.86. The company had a trading volume of 1,384,048 shares, compared to its average volume of 1,808,893. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The stock has a 50-day moving average of $149.34 and a 200 day moving average of $149.70. The stock has a market capitalization of $45.43 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.32.

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

TE Connectivity announced that its board has initiated a share repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TEL. StockNews.com started coverage on TE Connectivity in a research note on Sunday, November 24th. They issued a "buy" rating on the stock. Wells Fargo & Company cut their target price on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, September 20th. HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $159.55.

About TE Connectivity

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.