TE Connectivity Ltd. (TEL) To Go Ex-Dividend on November 22nd

TE Connectivity Ltd. (NYSE:TEL) declared a dividend on Tuesday, November 19th,investing.com reports. Stockholders 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 dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, November 22nd.

TE Connectivity has increased its dividend payment by an average of 7.0% per year over the last three years. TE Connectivity has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.8 %

TEL traded down $1.18 during trading on Wednesday, reaching $145.77. 205,535 shares of the stock traded hands, compared to its average volume of 1,819,430. The stock’s 50-day simple moving average is $148.63 and its two-hundred day simple moving average is $149.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The stock has a market cap of $43.61 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on TEL shares. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group reduced their price objective 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. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Wells Fargo & Company cut 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 report on Friday, September 20th. Finally, Vertical Research began coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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.