Trading Report: The Lear Corp. (LEA) Research Coverage Started at Robert W. Baird

The Lear Corp. (LEA) Research Coverage Started at Robert W. Baird

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.

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