A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Lear Corporation from a hold rating to a sell rating in a research note on Wednesday, July 5th. BidaskClub cut Lear Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reiterated a hold rating and issued a $157.00 target price on shares of Lear Corporation in a research note on Wednesday, July 12th. Guggenheim began coverage on Lear Corporation in a research note on Wednesday, June 21st. They issued a buy rating and a $167.00 target price on the stock. Finally, Bank of America Corporation cut Lear Corporation from a neutral rating to an underperform rating and cut their target price for the company from $135.00 to $110.00 in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $152.67.
Shares of Lear Corporation (NYSE LEA) opened at 166.77 on Friday. The company has a 50-day moving average of $149.19 and a 200 day moving average of $144.41. The stock has a market cap of $11.35 billion, a P/E ratio of 11.11 and a beta of 1.31. Lear Corporation has a 52-week low of $110.77 and a 52-week high of $167.95.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business posted $3.66 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Lear Corporation will post $16.53 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is 13.28%.
In other news, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total transaction of $690,012.69. Following the transaction, the director now directly owns 4,100 shares of the company’s stock, valued at $683,511. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Securities Inc. increased its holdings in shares of Lear Corporation by 36.6% during the first quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock valued at $624,000 after purchasing an additional 1,180 shares during the period. Achmea Investment Management B.V. acquired a new position in Lear Corporation during the first quarter worth about $3,302,000. Hillsdale Investment Management Inc. grew its holdings in Lear Corporation by 3.2% during the first 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 period. Two Sigma Securities LLC acquired a new position in Lear Corporation during the first quarter worth about $969,000. Finally, Deschutes Portfolio Strategy LLC grew its holdings in Lear Corporation by 21.9% during the second quarter. Deschutes Portfolio Strategy LLC now owns 2,225 shares of the auto parts company’s stock worth $316,000 after acquiring an additional 400 shares during the period. 94.30% of the stock is currently owned by institutional investors.
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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