Lear Corporation (LEA) to Issue Quarterly Dividend of $0.50 on December 27th

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.

Lear (NYSE:LEA) last released its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.16. Lear had a net margin of 5.79% and a return on equity of 31.79%. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. equities analysts forecast that Lear will post 16.84 EPS for the current year.

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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About Lear

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.

Dividend History for Lear (NYSE:LEA)

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