Lear Corp. (LEA) Trading Down 6.2%
Lear Corp. (NYSE:LEA) shares were down 6.2% on Thursday . The stock traded as low as $103.37 and last traded at $109.20, with a volume of 1,365,226 shares. The stock had previously closed at $116.44.
Several research analysts recently weighed in on LEA shares. Zacks Investment Research lowered Lear Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Goldman Sachs Group Inc. increased their target price on Lear Corp. from $107.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 3rd. Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 target price (up from $119.00) on shares of Lear Corp. in a research report on Thursday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $136.00 target price (up from $124.00) on shares of Lear Corp. in a research report on Thursday, April 28th. Finally, Bank of America Corp. lowered Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $124.78.
The company has a market cap of $8.38 billion and a P/E ratio of 9.08. The company’s 50-day moving average is $109.94 and its 200-day moving average is $109.15.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.34. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.86 billion. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Lear Corp. will post $12.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 10th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Wednesday, June 8th.
In other Lear Corp. news, Director Greg C. Smith sold 1,000 shares of Lear Corp. stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $113.95, for a total transaction of $113,950.00. Following the transaction, the director now directly owns 13,822 shares in the company, valued at approximately $1,575,016.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay K. Kunkel sold 653 shares of Lear Corp. stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $116.32, for a total transaction of $75,956.96. Following the transaction, the insider now owns 4,478 shares in the company, valued at $520,880.96. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in Lear Corp. by 6.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 9,589 shares of the company’s stock valued at $1,178,000 after buying an additional 548 shares during the last quarter. Utah Retirement Systems boosted its position in Lear Corp. by 0.7% in the fourth quarter. Utah Retirement Systems now owns 13,980 shares of the company’s stock valued at $1,717,000 after buying an additional 100 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Lear Corp. by 0.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 21,970 shares of the company’s stock valued at $2,699,000 after buying an additional 120 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Lear Corp. by 50.2% in the fourth quarter. Advisors Asset Management Inc. now owns 25,797 shares of the company’s stock valued at $3,169,000 after buying an additional 8,617 shares in the last quarter. Finally, WBI Investments Inc. bought a new position in Lear Corp. during the fourth quarter valued at approximately $3,353,000.
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 operates through two segments: seating and electrical.
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