TE Connectivity Ltd. (NYSE:TEL - Get Free Report) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Investors of record on Wednesday, May 21st will be paid a dividend of 0.71 per share by the electronics maker on Tuesday, June 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, May 21st. This is a 9.2% increase from TE Connectivity's previous quarterly dividend of $0.65.
TE Connectivity has increased its dividend payment by an average of 8.7% annually over the last three years and has raised its dividend every year for the last 11 years. TE Connectivity has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TE Connectivity to earn $8.91 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 31.9%.
TE Connectivity Price Performance
TE Connectivity stock traded up $1.00 during trading hours on Monday, reaching $146.88. 1,156,960 shares of the stock were exchanged, compared to its average volume of 1,580,979. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a market cap of $43.82 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The stock has a 50 day moving average of $148.53 and a two-hundred day moving average of $148.48.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.84 EPS. The firm's revenue for the quarter was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity will post 8.05 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on TEL shares. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Finally, Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $167.00.
Read Our Latest Analysis on TE Connectivity
Insider Activity at TE Connectivity
In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in TE Connectivity stock. Brighton Jones LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,736 shares of the electronics maker's stock, valued at approximately $820,000. Institutional investors own 91.43% of the company's stock.
About TE Connectivity
(
Get Free Report)
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.
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