Robert W. Baird Begins Coverage on Lear Corp. (LEA)
Equities researchers at Robert W. Baird assumed coverage on shares of Lear Corp. (NYSE:LEA) in a research report issued on Monday. The brokerage set a “neutral” rating and a $133.00 price target on the stock. Robert W. Baird’s target price would indicate a potential upside of 10.51% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Lear Corp. from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Tuesday, October 4th. Citigroup Inc. raised their price target on shares of Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Barclays PLC set a $127.00 price target on shares of Lear Corp. and gave the company a “hold” rating in a research report on Monday, August 1st. Seaport Global Securities started coverage on shares of Lear Corp. in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Finally, Bank of America Corp. lowered shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $128.00.
Shares of Lear Corp. (NYSE:LEA) traded down 0.55% during mid-day trading on Monday, hitting $120.35. 326,704 shares of the stock traded hands. The firm has a 50 day moving average of $117.57 and a 200 day moving average of $113.35. The company has a market cap of $8.61 billion, a P/E ratio of 9.63 and a beta of 1.22. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00.
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Lear Corp. (NYSE:LEA) last released its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.34. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.86 billion. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. Equities analysts anticipate that Lear Corp. will post $13.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio is currently 9.58%.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of Lear Corp. 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 transaction, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of LEA. Bank of Montreal Can bought a new stake in Lear Corp. during the second quarter worth about $222,829,000. Investec Asset Management LTD bought a new stake in Lear Corp. during the first quarter worth about $62,828,000. Vanguard Group Inc. increased its stake in Lear Corp. by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,704,450 shares of the company’s stock worth $580,484,000 after buying an additional 502,415 shares during the period. AQR Capital Management LLC increased its stake in Lear Corp. by 30.8% in the second quarter. AQR Capital Management LLC now owns 1,668,029 shares of the company’s stock worth $169,739,000 after buying an additional 392,597 shares during the period. Finally, American Century Companies Inc. increased its stake in Lear Corp. by 259.0% in the second quarter. American Century Companies Inc. now owns 531,695 shares of the company’s stock worth $54,105,000 after buying an additional 383,579 shares during the period. 94.70% of the stock is currently 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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