Lear (LEA) Declares $0.77 Dividend
Lear said on February 20, 2024 that its board of directors declared a regular quarterly dividend of $0.77 per share ($3.08 annualized). Previously, the company paid $0.77 per share.
Shares must be purchased before the ex-div date of March 7, 2024 to qualify for the dividend. Shareholders of record as of March 8, 2024 will receive the payment on March 27, 2024.
At the current share price of $135.78 / share, the stock's dividend yield is 2.27%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.87%, the lowest has been 0.51%, and the highest has been 2.80%. The standard deviation of yields is 0.68 (n=196).
The current dividend yield is 0.58 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 2.08%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 981 funds or institutions reporting positions in Lear. This is an increase of 32 owner(s) or 3.37% in the last quarter. Average portfolio weight of all funds dedicated to LEA is 0.21%, a decrease of 1.07%. Total shares owned by institutions decreased in the last three months by 0.52% to 65,276K shares. 
The put/call ratio of LEA is 1.33, indicating a bearish outlook.
Analyst Price Forecast Suggests 24.18% Upside
As of February 24, 2024, the average one-year price target for Lear is 168.61. The forecasts range from a low of 135.34 to a high of $220.50. The average price target represents an increase of 24.18% from its latest reported closing price of 135.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lear is 24,736MM, an increase of 5.41%. The projected annual non-GAAP EPS is 18.77.
What are Other Shareholders Doing?
Pzena Investment Management holds 6,254K shares representing 10.97% ownership of the company. In it's prior filing, the firm reported owning 6,515K shares, representing a decrease of 4.18%. The firm decreased its portfolio allocation in LEA by 13.62% over the last quarter.
Franklin Resources holds 2,179K shares representing 3.82% ownership of the company. In it's prior filing, the firm reported owning 2,026K shares, representing an increase of 7.03%. The firm increased its portfolio allocation in LEA by 4.15% over the last quarter.
Diamond Hill Capital Management holds 2,137K shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 2,036K shares, representing an increase of 4.74%. The firm increased its portfolio allocation in LEA by 0.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,815K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 1,843K shares, representing a decrease of 1.58%. The firm decreased its portfolio allocation in LEA by 4.48% over the last quarter.
Greenhaven Associates holds 1,793K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 1,790K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in LEA by 13.32% over the last quarter.
Lear Background Information
(This description is provided by the company.)
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 39 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 166 on the Fortune 500.
Additional reading:
- Lear Increases Share Repurchase Authorization to $1.5 Billion and Declares Quarterly Cash Dividend of $0.77 Per Share
- Restricted Stock Unit Terms and Conditions under the Lear Corporation 2019 Long-Term Stock Incentive Plan.
- Performance Share Terms and Conditions under the Lear Corporation 2019 Long-Term Stock Incentive Plan.
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