TE Connectivity Ltd. (TEL) To Go Ex-Dividend on May 21st

TE Connectivity Ltd. (NYSE:TEL) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Wednesday, May 21st. This is a 9.2% increase from TE Connectivity’s previous quarterly dividend of $0.65.

TE Connectivity has increased its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 11 years. TE Connectivity has a payout ratio of 29.0% meaning 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 Stock Performance

Shares of TE Connectivity stock opened at $146.22 on Friday. The company’s fifty day moving average is $148.53 and its 200 day moving average is $148.53. TE Connectivity has a twelve month low of $137.61 and a twelve month high of $159.98. The stock has a market cap of $43.63 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (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 the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company earned $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity will post 8.05 EPS for the current year.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of research reports. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial dropped their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

A hedge fund recently bought a new stake in TE Connectivity stock. Brighton Jones LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,736 shares of the electronics maker’s stock, valued at approximately $820,000. Institutional investors own 91.43% of the company’s stock.

About TE Connectivity

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.