Lear’s Steady Dividends
Lear announced on February 20, 2024, that its board of directors declared a consistent quarterly dividend of $0.77 per share ($3.08 annualized). With shares needing to be acquired before the ex-dividend date of March 7, 2024, shareholders of record by March 8, 2024, will relish the payment on March 27, 2024.
Diving Into Dividend Yields
At a current share price of $135.78, the stock’s dividend yield sits pretty at 2.27%. Reflecting on the past five years at regular intervals, the average dividend yield has clocked in at 1.87%, reaching its highest peak at 2.80%. Demonstrating stability, the company’s 3-Year dividend growth rate tips its hat at 2.08%.
Sizing Up the Fund Sentiment
With 981 funds or institutions reporting positions in Lear, it marks a 3.37% upsurge from the previous quarter. The average portfolio weight dedicated to LEA is 0.21%, showing a slight decrease. Notably, the put/call ratio of LEA currently stands at 1.33, painting a bearish outlook.
Analyst forecasts hint at a 24.18% upside for Lear, with a one-year average price target of $168.61. As for shareholder shuffles, Pzena Investment Management takes a 10.97% ownership with a decrease in portfolio allocation. On the flip side, Franklin Resources and Diamond Hill Capital Management show an increase in ownership, showcasing confidence in Lear’s trajectory.
Understanding Lear
Lear, based in Southfield, Michigan, stands as a magnetic global automotive technology leader in Seating and E-Systems, crafting outstanding in-vehicle experiences worldwide. Their knack for innovation, operational excellence, and sustainability has endeared them to every major automaker globally. With a spot at 166 on the Fortune 500, Lear is steadfastly Making every drive better™.
Additional reading:
Fintel, a key investing research platform for investors big and small, dives deep into the financial world, offering a wealth of data from fundamentals to insider trading to empower your investment decisions.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
