Lear Corp. (LEA) Stock Price Down 1.5%
Lear Corp. (NYSE:LEA)’s share price fell 1.5% during trading on Friday . The company 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.
A number of research firms recently commented on LEA. Royal Bank Of Canada reiterated an “outperform” rating and set a $136.00 price target (up previously from $124.00) on shares of Lear Corp. in a report on Thursday, April 28th. Barclays PLC restated an “equal weight” rating and set a $125.00 price objective (up from $119.00) on shares of Lear Corp. in a research report on Thursday, April 28th. Goldman Sachs Group Inc. raised their price objective on shares of Lear Corp. from $107.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Lear Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Bank of America Corp. downgraded shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $122.67.
The firm’s 50 day moving average price is $110.38 and its 200-day moving average price is $109.07. The firm has a market capitalization of $8.37 billion and a P/E ratio of 10.30.
Lear Corp. (NYSE:LEA) last posted its earnings results on Wednesday, April 27th. The company reported $3.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.77 by $0.63. The business earned $4.70 billion during the quarter, compared to analyst estimates of $4.67 billion. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. Analysts predict that Lear Corp. will post $12.84 EPS for the current 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis 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 the company’s 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 completion of the sale, the director now directly owns 13,822 shares of the company’s stock, valued at approximately $1,575,016.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay K. Kunkel sold 653 shares of the company’s 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 sale, the insider now directly owns 4,478 shares of the company’s stock, valued at $520,880.96. The disclosure for this sale can be found here.
A number of large investors have recently modified their holdings of LEA. BNP Paribas Arbitrage SA increased its stake in shares of Lear Corp. by 41.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 109,656 shares of the company’s stock worth $13,469,000 after buying an additional 32,011 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of Lear Corp. by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 126,554 shares of the company’s stock worth $15,545,000 after buying an additional 349 shares during the last quarter. WBI Investments Inc. purchased a new stake in shares of Lear Corp. during the fourth quarter worth about $3,353,000. US Bancorp DE increased its stake in shares of Lear Corp. by 12.9% in the fourth quarter. US Bancorp DE now owns 39,638 shares of the company’s stock worth $4,869,000 after buying an additional 4,541 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Lear Corp. by 50.2% in the fourth quarter. Advisors Asset Management Inc. now owns 25,797 shares of the company’s stock worth $3,169,000 after buying an additional 8,617 shares during the last quarter.
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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