TE Connectivity Ltd Declares Quarterly Dividend of $0.29 (TEL)
TE Connectivity (NYSE:TEL) announced a quarterly dividend on Friday, May 16th, StockRatingsNetwork reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.29 per share on Friday, June 13th. This represents a $1.16 annualized dividend and a dividend yield of 2.05%.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of TE Connectivity in a research note on Friday, May 2nd. They now have a $62.00 price target on the stock. On a related note, analysts at Citigroup Inc. reiterated a “buy” rating on shares of TE Connectivity in a research note on Thursday, April 24th. They now have a $73.00 price target on the stock. Finally, analysts at BofA Merrill Lynch upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a research note on Friday, April 11th. They now have a $70.00 price target on the stock, up previously from $60.00. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. TE Connectivity has a consensus rating of “Buy” and a consensus price target of $68.40.
TE Connectivity (NYSE:TEL) opened at 56.66 on Friday. TE Connectivity has a 52 week low of $43.88 and a 52 week high of $62.16. The stock’s 50-day moving average is $59.4 and its 200-day moving average is $56.32. The company has a market cap of $23.158 billion and a price-to-earnings ratio of 16.87.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.04. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that TE Connectivity will post $3.79 earnings per share for the current fiscal year.
In other TE Connectivity news, CEO Thomas Lynch unloaded 62,500 shares of TE Connectivity stock on the open market in a transaction dated Monday, May 5th. The stock was sold at an average price of $58.92, for a total value of $3,682,500.00. Following the sale, the chief executive officer now directly owns 339,365 shares in the company, valued at approximately $19,995,386. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
TE Connectivity Ltd. (NYSE:TEL), formerly Tyco Electronics Ltd.
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