Lear Corporation (LEA) Reaches New 52-Week High at $153.37
Lear Corporation (NYSE:LEA) shares reached a new 52-week high on Wednesday . The company traded as high as $153.37 and last traded at $153.00, with a volume of 460,700 shares. The stock had previously closed at $151.11.
A number of research firms recently weighed in on LEA. Robert W. Baird reaffirmed a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a research note on Friday, September 1st. BidaskClub raised Lear Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Barclays PLC upped their price target on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Lear Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $157.00 price target on shares of Lear Corporation in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Lear Corporation currently has an average rating of “Hold” and a consensus price target of $150.18.
The stock’s 50-day moving average is $146.36 and its 200-day moving average is $143.42. The firm has a market capitalization of $10.26 billion, a P/E ratio of 10.04 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business earned $3.66 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Lear Corporation will post $16.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. Lear Corporation’s payout ratio is currently 13.28%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Securities Inc. raised its holdings in Lear Corporation by 36.6% in the 1st quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock worth $624,000 after acquiring an additional 1,180 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in Lear Corporation in the 1st quarter worth approximately $3,302,000. Hillsdale Investment Management Inc. raised its holdings in Lear Corporation by 3.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,270 shares of the auto parts company’s stock worth $322,000 after acquiring an additional 70 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Lear Corporation in the 1st quarter worth approximately $969,000. Finally, Global Financial Private Capital LLC purchased a new position in Lear Corporation in the 1st quarter worth approximately $1,379,000. Institutional investors own 94.33% of the company’s stock.
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About Lear Corporation
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’s segments include Seating and E-Systems.
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