Lear Co. (NYSE:LEA) to Issue $0.77 Quarterly Dividend

Lear Co. (NYSE:LEAGet Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Friday, June 10th will be paid a dividend of 0.77 per share by the auto parts company on Wednesday, June 29th. This represents a $3.08 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, June 9th.

Lear has decreased its dividend payment by an average of 14.2% annually over the last three years and has increased its dividend every year for the last 1 years. Lear has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lear to earn $16.43 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 18.7%.

NYSE:LEA opened at $132.76 on Friday. The firm’s 50-day moving average is $134.42 and its 200-day moving average is $159.69. Lear has a 52-week low of $122.67 and a 52-week high of $204.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.36. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 0.41 and a beta of 1.47.

Lear (NYSE:LEAGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.24. Lear had a net margin of 1.15% and a return on equity of 7.51%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the previous year, the firm posted $3.73 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Lear will post 8.28 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Lear by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 5,532,044 shares of the auto parts company’s stock worth $788,815,000 after buying an additional 32,169 shares during the last quarter. Capital International Investors increased its stake in Lear by 47.9% in the 1st quarter. Capital International Investors now owns 3,064,807 shares of the auto parts company’s stock worth $437,259,000 after acquiring an additional 993,216 shares during the last quarter. State Street Corp increased its stake in Lear by 0.5% in the 1st quarter. State Street Corp now owns 2,463,244 shares of the auto parts company’s stock worth $351,234,000 after acquiring an additional 12,072 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Lear by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 397,595 shares of the auto parts company’s stock valued at $56,693,000 after purchasing an additional 16,592 shares during the last quarter. Finally, Capital Group Private Client Services Inc. increased its position in shares of Lear by 108.0% during the 1st quarter. Capital Group Private Client Services Inc. now owns 341,448 shares of the auto parts company’s stock valued at $48,687,000 after purchasing an additional 177,326 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on LEA. Barclays decreased their target price on shares of Lear from $161.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. BNP Paribas began coverage on shares of Lear in a research report on Monday, April 11th. They issued an “underperform” rating and a $112.00 price target on the stock. Benchmark boosted their price target on shares of Lear from $198.00 to $206.00 in a research report on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lear from $197.00 to $157.00 and set a “hold” rating on the stock in a research report on Thursday, April 21st. Finally, StockNews.com initiated coverage on shares of Lear in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Lear presently has a consensus rating of “Hold” and a consensus target price of $170.53.

Lear Company Profile (Get Rating)

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

See Also

Dividend History for Lear (NYSE:LEA)

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