TE Connectivity Ltd. Announces Dividend of $0.65 (NYSE:TEL)

TE Connectivity Ltd. (NYSE:TEL) declared a dividend on Tuesday, November 19th,investing.com reports. Stockholders of record on Monday, November 25th will be given a dividend of 0.65 per share by the electronics maker on Friday, December 6th. This represents a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, November 22nd.

TE Connectivity has increased its dividend payment by an average of 7.0% annually over the last three years. TE Connectivity has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Analysts expect TE Connectivity to earn $8.91 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 29.2%.

TE Connectivity Stock Performance

NYSE:TEL traded down $1.99 during trading hours on Tuesday, reaching $146.37. The company had a trading volume of 45,571 shares, compared to its average volume of 1,818,861. The firm’s 50 day moving average price is $148.57 and its 200-day moving average price is $149.42. The firm has a market cap of $43.79 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.02 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity has a 52 week low of $128.52 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. On average, analysts forecast that TE Connectivity will post 8.13 EPS for the current year.

TE Connectivity declared that its board has initiated a share repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

TEL has been the topic of several recent research reports. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Truist Financial increased their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a report on Saturday. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Company Profile

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.