TE Connectivity Ltd (NYSE:TEL) announced a quarterly dividend on Wednesday, February 7th, RTT News reports. Stockholders of record on Friday, February 23rd will be paid a dividend of 0.40 per share by the electronics maker on Friday, March 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.61%.
TE Connectivity has increased its dividend payment by an average of 11.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. TE Connectivity has a dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TE Connectivity to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 27.1%.
Shares of TE Connectivity (NYSE TEL) opened at $99.14 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. The company has a market capitalization of $34,671.09, a PE ratio of 19.43, a PEG ratio of 1.65 and a beta of 1.11. TE Connectivity has a 12 month low of $71.93 and a 12 month high of $108.23.
A number of equities analysts have issued reports on TEL shares. Wells Fargo & Co lifted their price target on TE Connectivity from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Monday, January 15th. Royal Bank of Canada reiterated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 price target on shares of TE Connectivity in a research note on Friday, November 3rd. Finally, Morgan Stanley lifted their price target on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $137.09.
In other TE Connectivity news, COO Joseph B. Donahue sold 8,843 shares of TE Connectivity stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $93.25, for a total transaction of $824,609.75. Following the transaction, the chief operating officer now owns 44,480 shares of the company’s stock, valued at approximately $4,147,760. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Terrence R. Curtin sold 142,450 shares of TE Connectivity stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $104.24, for a total transaction of $14,848,988.00. Following the transaction, the insider now directly owns 200,258 shares in the company, valued at approximately $20,874,893.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 764,702 shares of company stock worth $74,389,656. Insiders own 0.70% of the company’s stock.
TE Connectivity declared that its board has initiated a share repurchase plan on Friday, December 8th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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