TE Connectivity Ltd. (TEL) to Issue Quarterly Dividend of $0.40 on December 8th
TE Connectivity Ltd. (NYSE:TEL) announced a quarterly dividend on Thursday, November 9th, RTT News reports. Shareholders of record on Friday, November 24th will be paid a dividend of 0.40 per share by the electronics maker on Friday, December 8th. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Wednesday, November 22nd.
TE Connectivity has raised its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. TE Connectivity has a payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TE Connectivity to earn $5.71 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 28.0%.
Shares of TE Connectivity (TEL) opened at $95.89 on Tuesday. The firm has a market cap of $33,760.00, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54. TE Connectivity has a 12 month low of $66.14 and a 12 month high of $96.15.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. equities research analysts predict that TE Connectivity will post 5.27 earnings per share for the current year.
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TEL has been the subject of a number of research reports. Cowen and Company reiterated a “buy” rating and set a $95.00 target price on shares of TE Connectivity in a research note on Thursday, August 10th. BidaskClub lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Monday, September 4th. Stifel Nicolaus restated a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. TE Connectivity presently has a consensus rating of “Buy” and a consensus price target of $150.00.
In related news, insider Thomas J. Lynch sold 186,033 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $79.29, for a total value of $14,750,556.57. Following the completion of the transaction, the insider now owns 298,851 shares of the company’s stock, valued at approximately $23,695,895.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Heath A. Mitts sold 10,736 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total transaction of $999,951.04. The disclosure for this sale can be found here. Insiders sold a total of 742,571 shares of company stock valued at $65,219,757 in the last ninety days. 1.49% of the stock is currently owned by insiders.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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