TE Connectivity Ltd. (NYSE:TEL) declared a quarterly dividend on Wednesday, August 9th, RTT News reports. Shareholders of record on Friday, August 25th will be paid a dividend of 0.40 per share by the electronics maker on Friday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, August 23rd.
TE Connectivity has increased its dividend 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 33.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TE Connectivity to earn $5.07 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 31.6%.
Shares of TE Connectivity (NYSE TEL) traded up 0.13% on Friday, reaching $77.71. The company’s stock had a trading volume of 1,407,046 shares. The firm has a 50-day moving average price of $80.26 and a 200 day moving average price of $76.97. The firm has a market capitalization of $27.46 billion, a PE ratio of 16.50 and a beta of 1.06. TE Connectivity has a one year low of $60.38 and a one year high of $85.20.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, beating the consensus estimate of $1.17 by $0.07. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts anticipate that TE Connectivity will post $4.75 earnings per share for the current fiscal year.
Several analysts have recently commented on the company. BidaskClub lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $86.00 target price on shares of TE Connectivity in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. TE Connectivity presently has a consensus rating of “Hold” and an average target price of $83.43.
In other TE Connectivity news, COO Joseph B. Donahue sold 6,300 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.70, for a total transaction of $508,410.00. Following the sale, the chief operating officer now directly owns 34,609 shares of the company’s stock, valued at approximately $2,792,946.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $78.65, for a total value of $14,631,574.10. Following the sale, the insider now directly owns 504,885 shares in the company, valued at $39,709,205.25. The disclosure for this sale can be found here. Insiders sold a total of 726,407 shares of company stock valued at $57,751,239 in the last 90 days. 1.30% of the stock is currently owned by company 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.
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.