BidaskClub upgraded shares of Lear Corporation (NYSE:LEA) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.
Several other equities analysts have also issued reports on LEA. Zacks Investment Research lowered Lear Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, March 28th. Berenberg Bank initiated coverage on Lear Corporation in a research report on Friday, March 31st. They issued a buy rating and a $175.00 price target for the company. Royal Bank Of Canada reaffirmed a hold rating and issued a $148.00 price target on shares of Lear Corporation in a research report on Monday, April 10th. Robert W. Baird raised Lear Corporation from a neutral rating to an outperform rating and lifted their price target for the stock from $160.00 to $161.00 in a research report on Thursday, April 20th. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $134.00 price target (down previously from $138.00) on shares of Lear Corporation in a research report on Saturday, April 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $146.15.
Lear Corporation (NYSE LEA) traded up 0.68% on Wednesday, reaching $148.40. 475,301 shares of the company’s stock traded hands. The company has a market cap of $10.22 billion, a PE ratio of 10.33 and a beta of 1.32. Lear Corporation has a 12 month low of $103.37 and a 12 month high of $153.28. The firm’s 50 day moving average price is $144.38 and its 200 day moving average price is $140.99.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, April 26th. The auto parts company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.95 by $0.32. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.93 billion. Lear Corporation had a return on equity of 32.76% and a net margin of 5.46%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.40 earnings per share. On average, equities analysts expect that Lear Corporation will post $16.06 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Friday, June 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Wednesday, June 7th. Lear Corporation’s dividend payout ratio (DPR) is 13.90%.
In other Lear Corporation news, Director Greg C. Smith sold 2,266 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the completion of the sale, the director now directly owns 13,885 shares in the company, valued at approximately $2,014,991.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.49% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its stake in Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock worth $109,000 after buying an additional 148 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock worth $111,000 after buying an additional 270 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock worth $123,000 after buying an additional 408 shares in the last quarter. Global X Management Co. LLC increased its stake in Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock worth $124,000 after buying an additional 204 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.
Lear Corporation 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’s segments include Seating and E-Systems.
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