Lear Co. (NYSE:LEA) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders of record on Wednesday, March 7th will be given a dividend of 0.70 per share by the auto parts company on Monday, March 26th. This represents a $2.80 annualized dividend and a dividend yield of 1.49%. This is an increase from Lear’s previous quarterly dividend of $0.50.
Lear has raised its dividend by an average of 35.7% annually over the last three years and has raised its dividend every year for the last 7 years. Lear has a dividend payout ratio of 11.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lear to earn $18.99 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 10.5%.
Lear (NYSE:LEA) traded up $0.39 during midday trading on Wednesday, hitting $187.36. 183,660 shares of the stock traded hands, compared to its average volume of 669,922. Lear has a 12-month low of $132.01 and a 12-month high of $202.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.11 and a current ratio of 1.36. The company has a market cap of $12,649.24, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 1.40 and a beta of 1.48.
Several analysts have recently issued reports on LEA shares. Zacks Investment Research lowered shares of Lear from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Royal Bank of Canada raised shares of Lear from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $183.00 to $213.00 in a report on Thursday, October 26th. ValuEngine raised shares of Lear from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Deutsche Bank boosted their price target on shares of Lear from $167.00 to $176.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Longbow Research began coverage on shares of Lear in a report on Friday, January 5th. They issued a “buy” rating and a $225.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $192.06.
In related news, SVP Mel Stephens sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total value of $142,484.00. Following the transaction, the senior vice president now directly owns 40,000 shares in the company, valued at $7,160,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Terrence B. Larkin sold 1,137 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now owns 6,912 shares in the company, valued at $1,228,538.88. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
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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