TE Connectivity Ltd (NYSE:TEL) announced a quarterly dividend on Thursday, August 8th, RTT News reports. Shareholders of record on Friday, August 23rd will be paid a dividend of 0.46 per share by the electronics maker on Friday, September 6th. This represents a $1.84 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, August 22nd.

TE Connectivity has increased its dividend by an average of 10.4% annually over the last three years and has increased its dividend every year for the last 8 years. TE Connectivity has a payout ratio of 32.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TE Connectivity to earn $5.83 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 31.6%.

Shares of TE Connectivity stock opened at $90.10 on Wednesday. The firm has a market cap of $30.23 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. TE Connectivity has a 12-month low of $69.84 and a 12-month high of $97.99. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $91.54 and its two-hundred day simple moving average is $88.18.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.43 billion. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. As a group, sell-side analysts expect that TE Connectivity will post 5.52 earnings per share for the current fiscal year.

In other news, insider Steven T. Merkt sold 65,650 shares of TE Connectivity stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $93.55, for a total transaction of $6,141,557.50. Following the sale, the insider now owns 89,854 shares of the company’s stock, valued at approximately $8,405,841.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Lynch sold 124,400 shares of TE Connectivity stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $93.41, for a total transaction of $11,620,204.00. Following the sale, the director now directly owns 290,316 shares in the company, valued at approximately $27,118,417.56. The disclosure for this sale can be found here. Insiders have sold a total of 233,100 shares of company stock worth $21,676,261 in the last ninety days. Insiders own 0.80% of the company’s stock.

TEL has been the topic of a number of recent analyst reports. Goldman Sachs Group raised shares of TE Connectivity from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $105.00 in a report on Thursday, June 20th. Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price target on the stock. in a report on Monday, June 17th. HC Wainwright reissued a “sell” rating on shares of TE Connectivity in a report on Friday, May 3rd. Wells Fargo & Co lowered shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley cut their price target on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $92.21.

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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