TE Connectivity Ltd. (NYSE:TEL) to Issue $0.65 Dividend

TE Connectivity Ltd. (NYSE:TEL) declared a dividend on Tuesday, November 19th,investing.com reports. Investors 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 raised its dividend payment by an average of 7.0% annually over the last three years. TE Connectivity has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect TE Connectivity to earn $8.91 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 29.2%.

TE Connectivity Trading Down 1.3 %

Shares of NYSE:TEL traded down $1.99 during trading on Tuesday, hitting $146.37. The company had a trading volume of 45,571 shares, compared to its average volume of 1,818,861. The stock has a market cap of $43.79 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company has a fifty day simple moving average of $148.57 and a two-hundred day simple moving average of $149.42. TE Connectivity has a one year low of $128.52 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the company earned $1.78 earnings per share. TE Connectivity’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity will post 8.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

TEL has been the topic of several research analyst reports. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. StockNews.com began coverage on TE Connectivity in a research note on Saturday. They issued a “buy” rating on the stock. Truist Financial lifted their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Bank of America cut their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity declared that its board has approved a share repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

About TE Connectivity

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.