Lear Corporation (NYSE:LEA) declared a quarterly dividend on Thursday, November 16th, RTT News reports. Shareholders of record on Friday, December 8th will be given a dividend of 0.50 per share by the auto parts company on Wednesday, December 27th. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, December 7th.
Lear has increased its dividend payment by an average of 20.8% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Lear has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lear to earn $17.67 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 11.3%.
Lear (LEA) opened at $177.80 on Wednesday. The company has a market cap of $11,958.25, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.43. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. Lear has a 1-year low of $131.03 and a 1-year high of $181.38.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Lear from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Cowen reissued a “buy” rating and set a $196.00 price target on shares of Lear in a report on Friday, October 27th. Barclays boosted their price target on shares of Lear from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Deutsche Bank boosted their price target on shares of Lear from $167.00 to $176.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Guggenheim downgraded shares of Lear from a “buy” rating to a “neutral” rating and set a $167.00 price target for the company. in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $173.13.
In related news, SVP Mel Stephens sold 796 shares of Lear stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total transaction of $142,484.00. Following the sale, the senior vice president now directly owns 40,000 shares in the company, valued at $7,160,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry D. G. Wallace sold 4,139 shares of Lear stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the sale, the director now owns 4,100 shares in the company, valued at $683,511. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,337 shares of company stock worth $1,946,256. Company insiders own 0.49% of the company’s stock.
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Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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