TE Connectivity Ltd. (NYSE:TEL) Plans Dividend Increase – $0.71 Per Share

TE Connectivity Ltd. (NYSE:TEL) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Shareholders 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 annualized dividend and a yield of 2.01%. This is a 9.2% increase from TE Connectivity’s previous quarterly dividend of $0.65.

TE Connectivity has raised its dividend by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. TE Connectivity has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 1.4 %

NYSE:TEL opened at $141.20 on Friday. The firm’s fifty day moving average is $148.46 and its 200-day moving average is $148.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market cap of $42.13 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity will post 8.05 earnings per share for the current year.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

An institutional investor recently bought a new position in TE Connectivity stock. Brighton Jones LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,736 shares of the electronics maker’s stock, valued at approximately $820,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $167.00.

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.