TE Connectivity Ltd (TEL) Announces Quarterly Dividend of $0.29
TE Connectivity (NYSE:TEL) declared a quarterly dividend on Thursday, August 14th, American Banking & Market News reports. Shareholders of record on Friday, August 29th will be given a dividend of 0.29 per share on Friday, September 12th. This represents a $1.16 dividend on an annualized basis and a yield of 1.87%.
On a related note, analysts at Goldman Sachs raised their price target on shares of TE Connectivity to $66.00 in a research note on Thursday, June 19th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. TE Connectivity currently has an average rating of “Buy” and a consensus target price of $69.00.
TE Connectivity (NYSE:TEL) traded up 0.05% on Thursday, hitting $62.14. 713,060 shares of the company’s stock traded hands. TE Connectivity has a one year low of $48.29 and a one year high of $65.01. The stock’s 50-day moving average is $62.64 and its 200-day moving average is $59.87. The company has a market cap of $25.432 billion and a price-to-earnings ratio of 17.22.
TE Connectivity (NYSE:TEL) last released its earnings data on Wednesday, July 23rd. The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.99 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company posted $0.88 earnings per share. TE Connectivity’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that TE Connectivity will post $3.78 earnings per share for the current fiscal year.
In other TE Connectivity news, CEO Thomas J. Lynch sold 62,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $61.66, for a total transaction of $3,853,750.00. 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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