TE Connectivity (NYSE:TEL) Sets New 52-Week High Following Dividend Announcement

TE Connectivity Ltd. (NYSE:TEL) hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock 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. Stockholders of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.71%. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Friday, April 25th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Robert W. Baird lifted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Five 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $162.50.

TE Connectivity Stock Performance

The company has a market cap of $49.22 billion, a P/E ratio of 26.51, a PEG ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock’s 50-day moving average price is $149.51 and its 200-day moving average price is $148.02.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 earnings per share. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

Insider Transactions at TE Connectivity

In related news, EVP John S. Jenkins sold 20,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at $4,010,181.25. This trade represents a 45.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is currently owned by insiders.

Institutional Trading of TE Connectivity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Martingale Asset Management L P increased its position in TE Connectivity by 3.6% during the 1st quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker’s stock valued at $255,000 after purchasing an additional 63 shares during the period. Ballentine Partners LLC grew its position in TE Connectivity by 1.4% in the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker’s stock valued at $703,000 after purchasing an additional 68 shares during the period. Vista Investment Management grew its position in TE Connectivity by 0.5% in the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock valued at $1,891,000 after purchasing an additional 70 shares during the period. Silvercrest Asset Management Group LLC grew its position in TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock valued at $534,000 after purchasing an additional 75 shares during the period. Finally, Modera Wealth Management LLC grew its position in TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds 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.