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

TE Connectivity Ltd. (NYSE:TEL) declared a dividend on Tuesday, November 19th,investing.com reports. Investors of record on Monday, November 25th will be paid 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 is Friday, November 22nd.

TE Connectivity has increased its dividend by an average of 7.0% annually over the last three years. TE Connectivity has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. 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

Shares of TEL stock opened at $147.88 on Thursday. TE Connectivity has a one year low of $128.52 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The company has a 50 day moving average price of $148.70 and a 200 day moving average price of $149.44. The firm has a market capitalization 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 released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $4 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity will post 8.14 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Saturday, November 16th. They issued a “buy” rating for the company. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity announced that its board has initiated a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are 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.