Lear Co. (LEA) Given Average Recommendation of “Hold” by Analysts
Lear Co. (NYSE:LEA) has been assigned a consensus rating of “Hold” from the twelve analysts that are covering the firm. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $144.75.
LEA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Lear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Barclays PLC reissued an “equal weight” rating and issued a $134.00 price objective (down from $138.00) on shares of Lear in a research report on Saturday, April 22nd. Morgan Stanley lowered shares of Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 price objective on the stock. in a research report on Tuesday, February 21st. They noted that the move was a valuation call. Royal Bank of Canada reissued a “hold” rating and issued a $149.00 price objective on shares of Lear in a research report on Thursday, April 27th. Finally, Berenberg Bank initiated coverage on shares of Lear in a research report on Friday, March 31st. They issued a “buy” rating and a $175.00 price objective on the stock.
In other news, SVP Mel Stephens sold 21,132 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $144.55, for a total transaction of $3,054,630.60. Following the transaction, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $5,782,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Smith sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now directly owns 13,885 shares in the company, valued at $2,014,991.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,933 shares of company stock worth $3,607,900. Corporate insiders own 0.33% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. APG Asset Management N.V. increased its position in Lear by 415.0% in the third quarter. APG Asset Management N.V. now owns 340,021 shares of the auto parts company’s stock worth $41,217,000 after buying an additional 274,000 shares in the last quarter. First Trust Advisors LP increased its position in Lear by 30.8% in the third quarter. First Trust Advisors LP now owns 385,099 shares of the auto parts company’s stock worth $46,682,000 after buying an additional 90,581 shares in the last quarter. BB&T Corp increased its position in Lear by 8.3% in the third quarter. BB&T Corp now owns 50,025 shares of the auto parts company’s stock worth $6,064,000 after buying an additional 3,823 shares in the last quarter. TradeLink Capital LLC acquired a new position in Lear during the third quarter worth about $224,000. Finally, United Asset Strategies Inc. acquired a new position in Lear during the third quarter worth about $5,019,000. 97.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lear (NYSE:LEA) opened at 145.36 on Tuesday. The company has a 50 day moving average price of $139.39 and a 200 day moving average price of $137.83. Lear has a 1-year low of $97.35 and a 1-year high of $149.00. The company has a market capitalization of $10.01 billion, a PE ratio of 10.11 and a beta of 1.27.
Lear (NYSE:LEA) last posted its quarterly earnings data on Wednesday, April 26th. The auto parts company reported $4.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.95 by $0.32. Lear had a net margin of 5.25% and a return on equity of 32.21%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the company posted $3.40 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Lear will post $16.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Friday, June 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Wednesday, June 7th. Lear’s dividend payout ratio (DPR) is presently 9.00%.
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Lear Company Profile
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’s segments include Seating and E-Systems.
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