Lear Corp. (LEA) Downgraded by Zacks Investment Research
According to Zacks, “Lear Corporation is a leading global supplier of automotive seating systems, electrical distribution systems and electronics. The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. Lear Corporation is headquartered in Southfield, Michigan. “
A number of other brokerages have also recently weighed in on LEA. Bank of America Corp. cut Lear Corp. from a buy rating to a neutral rating in a research report on Tuesday, June 21st. Seaport Global Securities assumed coverage on Lear Corp. in a research report on Tuesday, August 9th. They issued a neutral rating for the company. Citigroup Inc. boosted their price target on Lear Corp. from $145.00 to $153.00 and gave the stock a buy rating in a research report on Tuesday, August 2nd. Barclays PLC set a $127.00 price target on Lear Corp. and gave the stock a hold rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Lear Corp. from $129.00 to $130.00 and gave the stock a neutral rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $128.00.
Lear Corp. (NYSE:LEA) opened at 120.35 on Wednesday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 9.63 and a beta of 1.22. The stock has a 50 day moving average price of $117.73 and a 200 day moving average price of $113.44. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00.
Lear Corp. (NYSE:LEA) last issued its earnings results on Thursday, July 28th. The company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 1.00%. Lear Corp.’s dividend payout ratio (DPR) is 9.58%.
In other news, Director Jonathan F. Foster sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its stake in Lear Corp. by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock valued at $103,000 after buying an additional 529 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares in the last quarter. Societe Generale bought a new stake in Lear Corp. during the second quarter valued at $121,000. Assetmark Inc. raised its stake in Lear Corp. by 8,535.3% in the second quarter. Assetmark Inc. now owns 1,468 shares of the company’s stock valued at $150,000 after buying an additional 1,451 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Lear Corp. by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,509 shares of the company’s stock valued at $154,000 after buying an additional 130 shares in the last quarter. Institutional investors own 94.70% of the company’s stock.
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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