TE Connectivity Ltd. (NYSE:TEL) Raises Dividend to $0.71 Per Share

TE Connectivity Ltd. (NYSE:TEL) announced 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 dividend on an annualized basis 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 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 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 Down 1.4 %

Shares of TE Connectivity stock traded down $1.98 on Thursday, hitting $141.20. 1,421,379 shares of the company’s stock traded hands, compared to its average volume of 1,633,637. TE Connectivity has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $42.13 billion, a P/E ratio of 22.56, a PEG ratio of 2.11 and a beta of 1.32. The firm’s 50-day moving average is $148.44 and its 200 day moving average is $148.62.

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. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. Equities analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on TEL shares. Citigroup lifted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective 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. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Truist Financial cut their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in TE Connectivity stock. Brighton Jones LLC purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,736 shares of the electronics maker’s stock, valued at approximately $820,000. 91.43% of the stock is currently owned by institutional investors.

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.