Zacks Investment Research upgraded shares of Lear (NYSE:LEA) from a hold rating to a buy rating in a research note issued to investors on Tuesday, January 9th. They currently have $214.00 price target on the auto parts company’s stock.
According to Zacks, “Lear Corporation is a leading global supplier of automotive seating systems, electrical distribution systems and electronics. The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. Lear Corporation is headquartered in Southfield, Michigan. “
Other research analysts also recently issued research reports about the stock. KeyCorp upped their price target on shares of Lear from $180.00 to $184.00 and gave the stock a buy rating in a research report on Friday, October 13th. Cowen started coverage on Lear in a report on Monday, September 25th. They set an outperform rating and a $195.00 price objective for the company. Deutsche Bank boosted their price objective on Lear from $167.00 to $176.00 and gave the stock a hold rating in a report on Thursday, October 26th. Buckingham Research cut Lear from a buy rating to a neutral rating and set a $175.00 price objective for the company. in a report on Tuesday, September 26th. They noted that the move was a valuation call. Finally, Longbow Research started coverage on Lear in a report on Friday, January 5th. They set a buy rating and a $225.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $179.50.
Lear (NYSE:LEA) last issued its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.80 by $0.16. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.84 billion. Lear had a net margin of 5.79% and a return on equity of 31.79%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. equities research analysts predict that Lear will post 16.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Friday, December 8th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, December 7th. Lear’s dividend payout ratio (DPR) is currently 12.22%.
In other Lear news, EVP Terrence B. Larkin sold 1,137 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now owns 6,912 shares of the company’s stock, valued at approximately $1,228,538.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mel Stephens sold 796 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total value of $142,484.00. Following the completion of the sale, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at approximately $7,160,000. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. Toronto Dominion Bank boosted its holdings in shares of Lear by 10.9% in the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after buying an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in Lear during the 2nd quarter valued at $126,000. Crossmark Global Holdings Inc. acquired a new stake in Lear during the 3rd quarter valued at $210,000. Calamos Advisors LLC acquired a new stake in Lear during the 3rd quarter valued at $216,000. Finally, Systematic Financial Management LP lifted its holdings in Lear by 144.0% during the 2nd quarter. Systematic Financial Management LP now owns 1,525 shares of the auto parts company’s stock valued at $217,000 after purchasing an additional 900 shares during the last quarter. 91.73% of the stock is owned by institutional investors.
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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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