TE Connectivity Ltd (NYSE:TEL) declared a quarterly dividend on Thursday, August 8th, RTT News reports. Stockholders of record on Friday, August 23rd will be paid a dividend of 0.46 per share by the electronics maker on Friday, September 6th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, August 22nd.
TE Connectivity has increased its dividend by an average of 10.4% annually over the last three years and has increased its dividend every year for the last 8 years. TE Connectivity has a payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TE Connectivity to earn $5.83 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 31.6%.
Shares of NYSE TEL opened at $87.29 on Friday. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.52 and a beta of 1.20. TE Connectivity has a 52 week low of $69.84 and a 52 week high of $97.99. The company’s 50-day moving average price is $92.09 and its 200 day moving average price is $88.09. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.08. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the company earned $1.43 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, research analysts expect that TE Connectivity will post 5.52 earnings per share for the current year.
In other news, Director Thomas J. Lynch sold 124,400 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $93.41, for a total transaction of $11,620,204.00. Following the completion of the transaction, the director now owns 290,316 shares of the company’s stock, valued at $27,118,417.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven T. Merkt sold 65,650 shares of TE Connectivity stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $93.55, for a total transaction of $6,141,557.50. Following the sale, the insider now owns 89,854 shares in the company, valued at $8,405,841.70. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
Several equities research analysts recently issued reports on TEL shares. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Monday, April 29th. Longbow Research cut shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price on the stock. in a research report on Monday, June 17th. Morgan Stanley cut their price target on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Cross Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, HC Wainwright reiterated a “sell” rating on shares of TE Connectivity in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $92.21.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.
See Also: Liquidity
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