Lear Corp. (LEA) Trading Down 1.5%
Shares of Lear Corp. (NYSE:LEA) fell 1.5% during mid-day trading on Friday . The stock traded as low as $112.87 and last traded at $113.27, with a volume of 357,988 shares traded. The stock had previously closed at $115.04.
Several research firms recently issued reports on LEA. Goldman Sachs Group Inc. upped their target price on Lear Corp. from $107.00 to $122.00 and gave the stock a “neutral” rating in a report on Tuesday, May 3rd. Barclays PLC reiterated an “equal weight” rating and set a $125.00 target price (up previously from $119.00) on shares of Lear Corp. in a report on Thursday, April 28th. Zacks Investment Research lowered Lear Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $136.00 target price (up previously from $124.00) on shares of Lear Corp. in a report on Thursday, April 28th. Finally, Bank of America Corp. lowered Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $122.67.
The firm has a 50-day moving average price of $110.49 and a 200 day moving average price of $109.12. The stock has a market cap of $8.37 billion and a P/E ratio of 10.30.
Lear Corp. (NYSE:LEA) last issued its earnings results on Wednesday, April 27th. The company reported $3.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.77 by $0.63. The firm earned $4.70 billion during the quarter, compared to analyst estimates of $4.67 billion. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. Equities research analysts expect that Lear Corp. will post $12.84 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 10th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.20 annualized dividend and a dividend yield of 1.06%.
In other Lear Corp. news, insider Jay K. Kunkel sold 653 shares of Lear Corp. stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $116.32, for a total transaction of $75,956.96. Following the completion of the transaction, the insider now owns 4,478 shares in the company, valued at approximately $520,880.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,000 shares of Lear Corp. stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $113.95, for a total value of $113,950.00. Following the transaction, the director now owns 13,822 shares of the company’s stock, valued at approximately $1,575,016.90. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Andra AP fonden increased its position in Lear Corp. by 8.4% in the fourth quarter. Andra AP fonden now owns 40,000 shares of the company’s stock worth $4,913,000 after buying an additional 3,100 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased 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 worth $1,178,000 after buying an additional 548 shares during the period. Principal Financial Group Inc. increased its position in Lear Corp. by 31.3% in the fourth quarter. Principal Financial Group Inc. now owns 52,337 shares of the company’s stock worth $6,429,000 after buying an additional 12,463 shares during the period. Wells Fargo & Company MN increased its position in Lear Corp. by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 743,194 shares of the company’s stock worth $91,287,000 after buying an additional 108,020 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in Lear Corp. by 32.6% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 130,914 shares of the company’s stock worth $16,080,000 after buying an additional 32,173 shares during the period.
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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