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

TE Connectivity Ltd. (NYSE:TELGet Free Report) announced a quarterly dividend on Wednesday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.65 per share by the electronics maker on Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, February 21st.

TE Connectivity has increased its dividend by an average of 7.0% annually over the last three years and has increased its dividend every year for the last 2 years. TE Connectivity has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TE Connectivity to earn $8.27 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 28.5%.

TE Connectivity Price Performance

TEL opened at $141.30 on Thursday. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $146.84. The firm has a market capitalization of $43.92 billion, a PE ratio of 13.41, a P/E/G ratio of 2.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The company has a fifty day moving average price of $140.38 and a two-hundred day moving average price of $132.90.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. As a group, analysts anticipate that TE Connectivity will post 7.57 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Money Concepts Capital Corp lifted its holdings in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 162 shares during the period. Point72 Europe London LLP bought a new position in TE Connectivity in the 4th quarter valued at approximately $49,000. First Capital Advisors Group LLC. bought a new position in TE Connectivity in the 2nd quarter valued at approximately $62,000. Milestone Investment Advisors LLC bought a new position in TE Connectivity in the 1st quarter valued at approximately $63,000. Finally, ICA Group Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 90.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup assumed coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Truist Financial boosted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company began coverage on shares of TE Connectivity in a research note on Friday, December 15th. They set an “equal weight” rating and a $144.00 price objective on the stock. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average target price of $146.67.

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TE Connectivity Company Profile

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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.

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Dividend History for TE Connectivity (NYSE:TEL)

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