TE Connectivity Ltd. (NYSE: TEL – Get a rating) announced a quarterly dividend on Friday, March 11, the wall street journal reports. Investors of record on Friday, August 19 will receive a dividend of 0.56 per share from the electronics maker on Friday, September 2. This represents an annualized dividend of $2.24 and a dividend yield of 1.76%. The ex-dividend date is Thursday, August 18.
TE Connectivity has increased its dividend payout by 4.8% over the past three years and has increased its dividend every year for the past 13 consecutive years. TE Connectivity has a payout ratio of 24.8%, which means its dividend is sufficiently covered by earnings. Analysts expect TE Connectivity to earn $8.02 per share next year, meaning the company should continue to be able to cover its $2.00 annual dividend with a future payout ratio. forecast of 24.9%.
TEL stock traded at $2.87 at midday Friday, hitting $127.42. 3,146,981 shares of the company have been traded, compared to its average volume of 1,860,454. The company has a market capitalization of $41.58 billion, a P/E ratio of 17.68, a PEG ratio of 1.78 and a beta of 1.35. The company has a debt ratio of 0.32, a current ratio of 1.69 and a quick ratio of 1.03. TE Connectivity has a fifty-two week low of $123.31 and a fifty-two week high of $166.44. The company has a 50-day moving average price of $147.28 and a two-hundred-day moving average price of $150.35.
TE Connectivity (NYSE: TEL – Get a rating) last announced its quarterly results on Wednesday, January 26. The electronics maker reported earnings per share of $1.76 for the quarter, beating analysts’ consensus estimate of $1.62 by $0.14. The company posted revenue of $3.82 billion for the quarter, versus $3.74 billion expected by analysts. TE Connectivity had a net margin of 16.07% and a return on equity of 21.87%. TE Connectivity revenue increased 8.4% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $1.47. As a group, research analysts expect TE Connectivity to post earnings per share of 7.22 for the current fiscal year.
In other TE Connectivity news, CFO Heath A. Mittens sold 8,698 shares of the company in a transaction on Monday, December 27. The shares were sold at an average price of $159.30, for a total transaction of $1,385,591.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. 0.73% of the shares are currently held by insiders.
A number of hedge funds have recently increased or reduced their stakes in the company. Vident Investment Advisory LLC increased its stake in TE Connectivity by 221.5% during the fourth quarter. Vident Investment Advisory LLC now owns 12,106 shares of the electronics maker valued at $1,954,000 after buying 8,341 additional shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in TE Connectivity during the fourth quarter valued at $169,000. Toroso Investments LLC increased its stake in TE Connectivity by 54.6% during the fourth quarter. Toroso Investments LLC now owns 14,320 shares of the electronics maker valued at $2,310,000 after buying an additional 5,059 shares in the last quarter. Zullo Investment Group Inc. acquired a new stake in TE Connectivity during the fourth quarter valued at $276,000. Finally, California State Teachers Retirement System increased its position in TE Connectivity shares by 36.8% during the fourth quarter. California State Teachers Retirement System now owns 404,821 shares of the electronics maker worth $65,314,000 after acquiring 109,004 additional shares in the last quarter. Hedge funds and other institutional investors hold 89.44% of the company’s shares.
A number of research analysts have weighed in on TEL shares. JPMorgan Chase & Co. raised its price target on TE Connectivity shares from $170.00 to $176.00 in a Thursday, January 20 research report. Morgan Stanley raised its price target on TE Connectivity shares from $162.00 to $167.00 and gave the stock an “equal weight” rating in a Thursday, January 27 research report. Finally, Goldman Sachs Group raised its price target on TE Connectivity stock from $170.00 to $190.00 and gave the stock a “buy” rating in a Monday, January 10 research report. Four analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat, the stock currently has a consensus buy rating and a consensus target price of $161.13.
TE Connectivity Company Profile (Get a rating)
TE Connectivity Ltd. engages in the design and manufacture of connectivity solutions and sensors. It operates through the following segments: Transportation, Industrial and Communication Solutions. The Transportation Solutions segment offers products used in the automotive, commercial transportation and sensor markets.
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