TE Connectivity (NYSE:TEL) Reaches New 12-Month High After Dividend Announcement

TE Connectivity Ltd. (NYSE:TEL - Get Free Report)'s share price hit a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $167.94 and last traded at $165.70, with a volume of 1431628 shares changing hands. The stock had previously closed at $166.39.

The newly announced dividend which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.71%. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. UBS Group raised their price objective on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Truist Financial cut their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group cut their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird raised their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.50.

TE Connectivity Stock Up 0.1%

The business's 50 day simple moving average is $148.66 and its 200 day simple moving average is $147.93. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $49.22 billion, a PE ratio of 26.51, a PEG ratio of 2.11 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Insider Transactions at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 5,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $800,000.00. Following the sale, the insider now directly owns 23,646 shares in the company, valued at approximately $3,783,360. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider now owns 25,976 shares of the company's stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,675 shares of company stock worth $27,369,059. 0.90% of the stock is currently owned by insiders.

Institutional Trading of TE Connectivity

A number of hedge funds and other institutional investors have recently bought and sold shares of TEL. Brighton Jones LLC purchased a new position in TE Connectivity in the 4th quarter worth about $820,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter worth about $44,000. Stonebridge Financial Group LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth approximately $124,000. Portfolio Design Labs LLC raised its stake in shares of TE Connectivity by 23.7% during the fourth quarter. Portfolio Design Labs LLC now owns 2,563 shares of the electronics maker's stock valued at $366,000 after acquiring an additional 491 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $444,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Company Profile

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.