TE Connectivity Ltd. (TEL) To Go Ex-Dividend on May 18th

TE Connectivity Ltd. (NYSE:TEL – Get Rating) declared a quarterly dividend on Wednesday, March 15th, Zacks reports. Shareholders of record on Friday, May 19th will be given a dividend of 0.59 per share by the electronics maker on Friday, June 2nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 18th. This is a boost from TE Connectivity’s previous quarterly dividend of $0.56.

TE Connectivity has raised its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. TE Connectivity has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect TE Connectivity to earn $7.53 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 29.7%.

TE Connectivity Stock Down 0.5 %

TEL opened at $124.34 on Friday. The stock has a market cap of $39.35 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 1.66. The firm’s fifty day moving average is $127.39 and its 200 day moving average is $122.26. TE Connectivity has a fifty-two week low of $104.76 and a fifty-two week high of $138.24.

TE Connectivity (NYSE:TEL – Get Rating) last issued its earnings results on Wednesday, January 25th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.03. TE Connectivity had a return on equity of 21.25% and a net margin of 13.85%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $1.76 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that TE Connectivity will post 6.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of TE Connectivity by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after acquiring an additional 308,580 shares during the period. Norges Bank purchased a new position in TE Connectivity in the fourth quarter valued at about $584,131,000. Morgan Stanley raised its holdings in TE Connectivity by 56.5% in the fourth quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock worth $409,818,000 after purchasing an additional 1,289,023 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of TE Connectivity by 119,784.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock valued at $372,832,000 after buying an additional 3,244,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of TE Connectivity by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,608,401 shares of the electronics maker’s stock valued at $210,669,000 after buying an additional 36,239 shares in the last quarter. Institutional investors own 91.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of research reports. Credit Suisse Group lowered their target price on TE Connectivity from $123.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, February 1st. Oppenheimer cut shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 6th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Thursday. They issued a “hold” rating for the company. Robert W. Baird reduced their price objective on TE Connectivity from $147.00 to $143.00 in a research note on Thursday, January 26th. Finally, JPMorgan Chase & Co. lowered their price objective on TE Connectivity from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, December 20th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $136.00.

About TE Connectivity

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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.