TE Connectivity Ltd. Plans Dividend of $0.65 (NYSE:TEL)

TE Connectivity Ltd. (NYSE:TEL) declared a dividend on Tuesday, November 19th,investing.com reports. Shareholders of record on Monday, November 25th will be given a dividend of 0.65 per share by the electronics maker on Friday, December 6th. This represents a yield of 1.75%. The ex-dividend date of this dividend is Friday, November 22nd.

TE Connectivity has increased its dividend payment by an average of 7.0% annually over the last three years. TE Connectivity has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TE Connectivity to earn $8.93 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 29.1%.

TE Connectivity Stock Performance

NYSE:TEL opened at $147.88 on Thursday. TE Connectivity has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $148.70 and a 200-day moving average of $149.44. The firm has a market cap of $44.24 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that TE Connectivity will post 8.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEL has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

TE Connectivity Company Profile

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