Lear Corporation (LEA) to Issue Quarterly Dividend of $0.77 on June 23rd

Lear Corporation (NYSE:LEA) announced a quarterly dividend on Thursday, May 14th. Investors of record on Wednesday, June 3rd will be paid a dividend of 0.77 per share by the auto parts company on Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, June 3rd.

Lear has increased its dividend by an average of 0.2%annually over the last three years. Lear has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lear to earn $16.90 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 18.2%.

Lear Price Performance

Shares of NYSE:LEA opened at $132.57 on Friday. The company’s fifty day moving average price is $123.96 and its 200 day moving average price is $120.15. Lear has a 12 month low of $86.14 and a 12 month high of $142.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The firm has a market capitalization of $6.64 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.71 and a beta of 1.21.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the business earned $3.12 EPS. Lear’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Lear will post 14.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 10,000 shares of Lear stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $134.51, for a total value of $1,345,100.00. Following the sale, the chief financial officer owned 22,741 shares of the company’s stock, valued at $3,058,891.91. The trade was a 30.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Marianne Vidershain sold 1,590 shares of Lear stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total transaction of $214,650.00. Following the completion of the sale, the vice president directly owned 1,862 shares in the company, valued at approximately $251,370. The trade was a 46.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 25,264 shares of company stock valued at $3,400,687. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Lear

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vest Financial LLC boosted its holdings in shares of Lear by 134.9% in the third quarter. Vest Financial LLC now owns 25,951 shares of the auto parts company’s stock valued at $2,611,000 after acquiring an additional 14,904 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Lear by 23.6% in the third quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock valued at $157,891,000 after acquiring an additional 299,841 shares in the last quarter. Capital Management Corp VA purchased a new stake in shares of Lear in the third quarter valued at about $2,295,000. Meritage Portfolio Management purchased a new stake in shares of Lear in the third quarter valued at about $3,268,000. Finally, Oldfield Partners LLP boosted its holdings in shares of Lear by 5.5% in the fourth quarter. Oldfield Partners LLP now owns 644,286 shares of the auto parts company’s stock valued at $73,835,000 after acquiring an additional 33,313 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

About Lear

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.