Lear Co. Announces Quarterly Dividend of $0.77 (NYSE:LEA)

Lear Co. (NYSE:LEA – Get Free Report) announced a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Stockholders of record on Wednesday, September 4th will be given a dividend of 0.77 per share by the auto parts company on Monday, September 23rd. This represents a dividend of $3.08 on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, September 4.

Lear has increased its dividend payout by an average of 44.5% per year over the past three years. Lear has a payout ratio of 19.2%, indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lear to earn $16.81 per share next year, which means the company should be able to continue to cover its $3.08 annual dividend with an estimated future payout ratio of 18.3 %.

Lear stock performance

Shares of LEA opened at $112.77 on Friday. The company has a 50-day moving average price of $116.13 and a 200-day moving average price of $128.15. Lear has a fifty-two week low of $107.25 and a fifty-two week high of $147.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34, and a quick ratio of 1.04. The stock has a market cap of $6.40 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.36 and a beta of 1.47.

Lear (NYSE:LEA – Get Your Free Report ) last issued its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. In the same quarter last year, the company posted earnings per share of $3.33. The company’s quarterly revenue was up 0.2% year over year. analysts forecast that Lear will post 13.13 EPS for the current year.

The Wall Street analyst weighs in

LEA has been the subject of a number of research reports. Wells Fargo & Company cut their price target on shares of Lear from $132.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. UBS Group cut their price objective on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Citigroup cut their price target on Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Evercore ISI reduced their price objective on Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, July 15th . Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $153.56, according to MarketBeat .

Read our latest analysis of LEA

Internal activity at Lear

In other Lear news, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In other Lear news, Director Greg C. Smith sold 2,392 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The disclosure for this sale can be found here. 0.79% of shares are held by corporate insiders.

Lear Company Profile

(Get a free report)

Lear Corporation designs, develops, engineers, manufactures, assembles and supplies automotive seats and electrical distribution systems and related components to automotive original equipment manufacturers in North America, Europe, Africa, Asia and South America. Its seating segment offers seat systems, seat subsystems, key seat components, seat covers, seat mechanisms, seat foam and headrests, as well as surface materials such as leather and fabric for automobiles and light trucks, compact cars, vans. , and sport utility vehicles.

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