Lear Corp. (LEA) Now Covered by Robert W. Baird
Equities researchers at Robert W. Baird initiated coverage on shares of Lear Corp. (NYSE:LEA) in a report released on Monday. The brokerage set a “neutral” rating and a $133.00 price target on the stock. Robert W. Baird’s price objective points to a potential upside of 10.51% from the stock’s current price.
A number of other brokerages also recently weighed in on LEA. Zacks Investment Research downgraded shares of Lear Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Barclays PLC set a $127.00 target price on shares of Lear Corp. and gave the stock a “hold” rating in a research note on Monday, August 1st. Seaport Global Securities started coverage on shares of Lear Corp. in a research note on Tuesday, August 9th. They set a “neutral” rating for the company. Bank of America Corp. downgraded shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Finally, Citigroup Inc. lifted their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $128.00.
Shares of Lear Corp. (NYSE:LEA) traded down 0.55% during trading on Monday, reaching $120.35. 326,704 shares of the company were exchanged. The stock’s 50-day moving average is $117.57 and its 200-day moving average is $113.35. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 9.63 and a beta of 1.22. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $127.00.
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Lear Corp. (NYSE:LEA) last announced its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The business earned $4.70 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the firm earned $2.82 earnings per share. Lear Corp.’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s payout ratio is presently 9.58%.
In other news, Director Jonathan F. Foster sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the sale, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
Several large investors have recently bought and sold shares of LEA. Origin Asset Management LLP increased 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 valued at $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 valued at approximately $222,829,000. British Columbia Investment Management Corp increased 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 valued at $5,914,000 after buying an additional 15,069 shares during the last quarter. PGGM Investments increased its stake in Lear Corp. by 35.3% in the second quarter. PGGM Investments now owns 346,152 shares of the company’s stock valued at $35,224,000 after buying an additional 90,279 shares during the last quarter. Finally, Geode Capital Management LLC increased 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 valued at $57,689,000 after buying an additional 6,760 shares during the last quarter. 94.70% of the stock is owned by institutional investors.
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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