Shares of Lear Corp. (NYSE:LEA) have received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the company. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $125.18.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Lear Corp. from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Tuesday. Goldman Sachs Group Inc. downgraded Lear Corp. from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $116.00 to $107.00 in a research note on Thursday, October 6th. Bank of America Corp. downgraded Lear Corp. from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, November 9th. Royal Bank Of Canada boosted their target price on Lear Corp. from $121.00 to $127.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 27th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $127.00 target price (up previously from $121.00) on shares of Lear Corp. in a research note on Thursday, October 27th.
Lear Corp. (NYSE:LEA) traded up 0.727% on Friday, reaching $129.625. 139,524 shares of the company traded hands. The stock has a market capitalization of $9.10 billion, a PE ratio of 9.845 and a beta of 1.29. The firm has a 50 day moving average of $120.72 and a 200-day moving average of $115.63. Lear Corp. has a one year low of $93.54 and a one year high of $130.59.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $3.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.23. Lear Corp. had a net margin of 5.26% and a return on equity of 31.86%. The business earned $4.50 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the prior year, the business posted $2.56 earnings per share. Lear Corp.’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Lear Corp. will post $13.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, December 7th. Lear Corp.’s payout ratio is presently 9.12%.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total transaction of $178,860.00. Following the transaction, the director now directly owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of LEA. Panagora Asset Management Inc. boosted its position in Lear Corp. by 0.4% in the first quarter. Panagora Asset Management Inc. now owns 129,690 shares of the company’s stock worth $14,418,000 after buying an additional 508 shares during the last quarter. Royal Bank of Canada boosted its position in Lear Corp. by 206.0% in the first quarter. Royal Bank of Canada now owns 277,247 shares of the company’s stock worth $30,822,000 after buying an additional 186,629 shares during the last quarter. Origin Asset Management LLP boosted its position in Lear Corp. by 15.3% in the first quarter. Origin Asset Management LLP now owns 292,521 shares of the company’s stock worth $32,520,000 after buying an additional 38,844 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in Lear Corp. during the first quarter worth about $214,000. Finally, Fulton Bank N.A. acquired a new position in Lear Corp. during the second quarter worth about $251,000. Hedge funds and other institutional investors own 95.88% of the company’s stock.
About Lear Corp.
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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