TE Connectivity Ltd. Announces Dividend of $0.37 (TEL)
TE Connectivity Ltd. (NYSE:TEL) announced a dividend on Wednesday, November 16th. Investors of record on Friday, November 25th will be paid a dividend of 0.37 per share on Friday, December 9th. The ex-dividend date of this dividend is Tuesday, November 22nd.
Shares of TE Connectivity (NYSE:TEL) opened at 67.25 on Wednesday. TE Connectivity has a 52 week low of $51.70 and a 52 week high of $67.99. The company has a market cap of $23.89 billion, a PE ratio of 12.35 and a beta of 1.20. The company has a 50 day moving average of $63.33 and a 200 day moving average of $61.05.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.07. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The firm earned $3.30 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that TE Connectivity will post $4.36 EPS for the current year.
TEL has been the topic of several research reports. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. RBC Capital Markets restated an “outperform” rating and set a $65.00 price objective (up previously from $63.00) on shares of TE Connectivity in a research report on Thursday, July 21st. Royal Bank Of Canada raised their price objective on shares of TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Finally, Morgan Stanley restated a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.67.
In other TE Connectivity news, COO Joseph B. Donahue sold 32,188 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $66.90, for a total value of $2,153,377.20. Following the transaction, the chief operating officer now owns 43,694 shares in the company, valued at $2,923,128.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Lynch sold 123,635 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the completion of the transaction, the chief executive officer now owns 507,776 shares in the company, valued at approximately $31,878,177.28. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in TEL. Freestone Capital Holdings LLC raised its stake in shares of TE Connectivity by 0.8% in the second quarter. Freestone Capital Holdings LLC now owns 15,331 shares of the company’s stock worth $876,000 after buying an additional 116 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of TE Connectivity by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 11,220 shares of the company’s stock worth $641,000 after buying an additional 350 shares during the last quarter. BOKF NA raised its stake in shares of TE Connectivity by 1.5% in the second quarter. BOKF NA now owns 29,222 shares of the company’s stock worth $1,669,000 after buying an additional 431 shares during the last quarter. Andra AP fonden raised its stake in shares of TE Connectivity by 1.0% in the second quarter. Andra AP fonden now owns 80,200 shares of the company’s stock worth $4,580,000 after buying an additional 801 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of TE Connectivity by 15.2% in the second quarter. Wetherby Asset Management Inc. now owns 6,229 shares of the company’s stock worth $356,000 after buying an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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