Robert W. Baird assumed coverage on shares of Lear Corp. (NYSE:LEA) in a report published on Monday. The firm issued a neutral rating and a $133.00 price target on the stock.
A number of other equities research analysts also recently issued reports on the company. Goldman Sachs Group Inc. downgraded Lear Corp. from a neutral rating to a sell rating and decreased their price objective for the company from $116.00 to $107.00 in a research report on Thursday, October 6th. Zacks Investment Research downgraded Lear Corp. from a buy rating to a hold rating in a report on Wednesday, October 5th. Seaport Global Securities assumed coverage on Lear Corp. in a report on Tuesday, August 9th. They issued a neutral rating on the stock. Citigroup Inc. increased their price target on Lear Corp. from $145.00 to $153.00 and gave the stock a buy rating in a report on Tuesday, August 2nd. Finally, Barclays PLC set a $127.00 price target on Lear Corp. and gave the stock a hold rating in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Lear Corp. presently has an average rating of Hold and an average price target of $128.00.
Shares of Lear Corp. (NYSE:LEA) opened at 119.05 on Monday. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $127.00. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 9.53 and a beta of 1.22. The company’s 50 day moving average price is $117.92 and its 200 day moving average price is $113.52.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The business had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Lear Corp. will post $13.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 1.01%. Lear Corp.’s dividend payout ratio (DPR) is presently 9.58%.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction 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 sale, the director now owns 4,025 shares of the company’s stock, valued at approximately $479,941. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.
Several hedge funds have recently bought and sold shares of LEA. Origin Asset Management LLP boosted its stake 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. Bank of Montreal Can acquired a new stake in Lear Corp. during the second quarter worth $222,829,000. British Columbia Investment Management Corp boosted its stake in Lear Corp. by 35.0% in the second quarter. British Columbia Investment Management Corp now owns 58,113 shares of the company’s stock worth $5,914,000 after buying an additional 15,069 shares during the last quarter. PGGM Investments boosted its stake in Lear Corp. by 35.3% in the second quarter. PGGM Investments now owns 346,152 shares of the company’s stock worth $35,224,000 after buying an additional 90,279 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Lear Corp. by 1.3% in the first quarter. Geode Capital Management LLC now owns 519,185 shares of the company’s stock worth $57,689,000 after buying an additional 6,760 shares during the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.
About Lear Corp.