TE Connectivity Ltd (TEL) to Issue Dividend Increase – $0.46 Per Share

TE Connectivity Ltd (NYSE:TEL) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Friday, May 24th will be paid a dividend of 0.46 per share by the electronics maker on Friday, June 7th. This represents a $1.84 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, May 23rd. This is an increase from TE Connectivity’s previous quarterly dividend of $0.44.

Shares of TE Connectivity stock opened at $89.27 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. TE Connectivity has a 52-week low of $69.84 and a 52-week high of $99.52. The company has a market capitalization of $30.16 billion, a PE ratio of 15.91, a PEG ratio of 1.49 and a beta of 1.10.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.15. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.36 billion. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. As a group, analysts predict that TE Connectivity will post 5.61 EPS for the current year.

In other TE Connectivity news, Director Thomas J. Lynch sold 42,239 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $95.11, for a total transaction of $4,017,351.29. Following the completion of the transaction, the director now owns 208,121 shares of the company’s stock, valued at $19,794,388.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Lynch sold 68,516 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $95.36, for a total value of $6,533,685.76. Following the transaction, the director now directly owns 234,398 shares of the company’s stock, valued at approximately $22,352,193.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,433 shares of company stock worth $31,184,704. 0.80% of the stock is currently owned by company insiders.

TEL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Monday, April 29th. ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $94.43.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Dividend History for TE Connectivity (NYSE:TEL)

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