TE Connectivity Ltd (NYSE:TEL) to Issue $0.46 Quarterly Dividend

Share on StockTwits

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 given a dividend of 0.46 per share by the electronics maker on Friday, September 6th. This represents a $1.84 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, August 22nd.

TE Connectivity has increased its dividend payment by an average of 10.4% annually over the last three years and has raised its dividend every year for the last 8 years. TE Connectivity has a dividend payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Equities research 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%.

TEL opened at $90.10 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $91.54 and a 200-day moving average price of $88.18. TE Connectivity has a twelve month low of $69.84 and a twelve month high of $97.99. The stock has a market capitalization of $30.23 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.52 and a beta of 1.20.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, analysts expect that TE Connectivity will post 5.52 earnings per share for the current year.

TEL has been the subject of several research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Monday, April 29th. Morgan Stanley decreased their price objective on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Wells Fargo & Co cut shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. Cross Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price for the company. in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $92.21.

In related news, insider Steven T. Merkt sold 65,650 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 89,854 shares in the company, valued at $8,405,841.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Lynch sold 124,400 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 290,316 shares of the company’s stock, valued at $27,118,417.56. The disclosure for this sale can be found here. Insiders have sold 233,100 shares of company stock valued at $21,676,261 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

Featured Story: Treasury Bonds

Dividend History for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.