TE Connectivity Ltd. (NYSE:TEL) Announces $0.59 Quarterly Dividend

TE Connectivity Ltd. (NYSE:TEL – Get Rating) announced a quarterly dividend on Friday, March 17th, Wall Street Journal reports. Investors of record on Friday, August 18th will be given a dividend of 0.59 per share by the electronics maker on Friday, September 1st. This represents a $2.36 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, August 17th.

TE Connectivity has increased its dividend payment by an average of 7.2% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. TE Connectivity has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect TE Connectivity to earn $7.53 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 29.7%.

TE Connectivity Stock Down 1.3 %

TEL stock opened at $123.23 on Friday. The company has a market cap of $39.00 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.80 and a beta of 1.32. TE Connectivity has a 52 week low of $104.76 and a 52 week high of $138.24. The company’s 50-day moving average price is $127.45 and its 200 day moving average price is $122.24. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30.

TE Connectivity (NYSE:TEL – Get Rating) last announced its earnings results on Wednesday, January 25th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.03. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. TE Connectivity had a net margin of 13.85% and a return on equity of 21.25%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. On average, research analysts expect that TE Connectivity will post 6.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in TE Connectivity by 3,663.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 31,272 shares of the electronics maker’s stock worth $3,590,000 after buying an additional 30,441 shares during the period. Moneta Group Investment Advisors LLC grew its stake in TE Connectivity by 19.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,248 shares of the electronics maker’s stock worth $373,000 after buying an additional 539 shares during the period. Personal Capital Advisors Corp boosted its stake in shares of TE Connectivity by 8.6% in the fourth quarter. Personal Capital Advisors Corp now owns 2,265 shares of the electronics maker’s stock valued at $260,000 after purchasing an additional 179 shares during the period. Point72 Middle East FZE purchased a new position in shares of TE Connectivity in the fourth quarter valued at $1,810,000. Finally, State of Wyoming purchased a new position in shares of TE Connectivity in the fourth quarter valued at $196,000. 91.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of research reports. Wolfe Research cut shares of TE Connectivity from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 9th. Credit Suisse Group cut their price objective on shares of TE Connectivity from $123.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, February 1st. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Thursday. They issued a “hold” rating for the company. Oppenheimer lowered shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 6th. Finally, Stifel Nicolaus lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research report on Wednesday, February 15th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.00.

About TE Connectivity

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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.