TE Connectivity Ltd. (NYSE:TEL) Raises Dividend to $0.59 Per Share

TE Connectivity Ltd. (NYSE:TEL – Get Rating) declared a quarterly dividend on Wednesday, March 15th, Zacks reports. Shareholders of record on Friday, May 19th will be given a dividend of 0.59 per share by the electronics maker on Friday, June 2nd. This represents a $2.36 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 18th. This is an increase from TE Connectivity’s previous quarterly dividend of $0.56.

TE Connectivity has raised its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 13 years. TE Connectivity has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

TEL opened at $124.91 on Friday. TE Connectivity has a 12-month low of $104.76 and a 12-month high of $138.24. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $39.53 billion, a P/E ratio of 17.87, a PEG ratio of 2.80 and a beta of 1.32. The stock has a fifty day moving average of $127.39 and a 200-day moving average of $122.26.

TE Connectivity (NYSE:TEL – Get Rating) last issued its earnings results on Wednesday, January 25th. The electronics maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.03. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. TE Connectivity had a return on equity of 21.25% and a net margin of 13.85%. During the same quarter in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts forecast that TE Connectivity will post 6.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TEL. Jefferies Financial Group raised their price objective on shares of TE Connectivity from $140.00 to $154.00 in a research report on Tuesday, November 22nd. StockNews.com began coverage on shares of TE Connectivity in a research note on Thursday. They issued a “hold” rating for the company. Wolfe Research downgraded shares of TE Connectivity from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 9th. Oppenheimer downgraded TE Connectivity from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 6th. Finally, Stifel Nicolaus downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a research note on Wednesday, February 15th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $136.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Money Concepts Capital Corp increased its position in shares of TE Connectivity by 101.3% during the fourth quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 162 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at $59,000. CENTRAL TRUST Co lifted its holdings in shares of TE Connectivity by 30.7% during the 3rd quarter. CENTRAL TRUST Co now owns 957 shares of the electronics maker’s stock worth $106,000 after acquiring an additional 225 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of TE Connectivity during the 1st quarter valued at about $219,000. Finally, Eqis Capital Management Inc. increased its stake in TE Connectivity by 16.0% in the first quarter. Eqis Capital Management Inc. now owns 1,682 shares of the electronics maker’s stock valued at $220,000 after acquiring an additional 232 shares during the period. Institutional investors own 91.10% of the company’s stock.

TE Connectivity Company Profile

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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.