Lear Corp. (LEA) Coverage Initiated by Analysts at Robert W. Baird
A number of other equities research analysts have also recently weighed in on LEA. Bank of America Corp. cut Lear Corp. from a buy rating to a neutral rating in a report on Tuesday, June 21st. Zacks Investment Research cut Lear Corp. from a strong-buy rating to a hold rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. increased their target price on Lear Corp. from $129.00 to $130.00 and gave the company a neutral rating in a report on Friday, July 29th. Barclays PLC set a $127.00 target price on Lear Corp. and gave the company a hold rating in a report on Monday, August 1st. Finally, Citigroup Inc. increased their target price on Lear Corp. from $145.00 to $153.00 and gave the company a buy rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Lear Corp. has an average rating of Hold and an average price target of $128.00.
Lear Corp. (NYSE:LEA) traded down 0.37% during trading on Monday, hitting $119.90. The stock had a trading volume of 32,995 shares. The firm has a 50 day moving average of $117.73 and a 200-day moving average of $113.44. Lear Corp. has a one year low of $93.54 and a one year high of $127.00. The company has a market cap of $8.58 billion, a P/E ratio of 9.59 and a beta of 1.22.
Lear Corp. (NYSE:LEA) last released its quarterly earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. The business had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 EPS. Equities analysts anticipate that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s dividend payout ratio (DPR) is currently 9.58%.
In related news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total value of $178,860.00. Following the transaction, the director now directly owns 4,025 shares of the company’s stock, valued at approximately $479,941. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Origin Asset Management LLP raised its position in shares of Lear Corp. by 15.3% in the first quarter. Origin Asset Management LLP now owns 292,521 shares of the company’s stock valued at $32,520,000 after buying an additional 38,844 shares during the period. Bank of Montreal Can purchased a new position in shares of Lear Corp. during the second quarter valued at $222,829,000. British Columbia Investment Management Corp raised its position in shares of Lear Corp. by 35.0% in the second quarter. British Columbia Investment Management Corp now owns 58,113 shares of the company’s stock valued at $5,914,000 after buying an additional 15,069 shares during the period. PGGM Investments raised its position in shares of Lear Corp. by 35.3% in the second quarter. PGGM Investments now owns 346,152 shares of the company’s stock valued at $35,224,000 after buying an additional 90,279 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Lear Corp. by 1.3% in the first quarter. Geode Capital Management LLC now owns 519,185 shares of the company’s stock valued at $57,689,000 after buying an additional 6,760 shares during the period. 94.70% of the stock is currently owned by institutional investors and hedge funds.
Lear Corp. Company Profile
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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