Lear Corp. (NYSE:LEA) Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the sale, the director now owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lear Corp. (NYSE:LEA) opened at 121.22 on Friday. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00. The company has a market cap of $8.67 billion, a PE ratio of 9.70 and a beta of 1.25. The company has a 50-day moving average of $116.40 and a 200 day moving average of $112.99.
Lear Corp. (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $3.66 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.86 billion. During the same period in the previous year, the business posted $2.82 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
A number of hedge funds have recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its stake in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the last quarter. Societe Generale acquired a new stake in shares of Lear Corp. during the second quarter valued at approximately $121,000. Assetmark Inc. boosted its stake in shares of Lear Corp. by 8,535.3% in the second quarter. Assetmark Inc. now owns 1,468 shares of the company’s stock valued at $150,000 after buying an additional 1,451 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Lear Corp. by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,509 shares of the company’s stock valued at $154,000 after buying an additional 130 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Lear Corp. by 24.4% in the second quarter. Creative Planning now owns 1,532 shares of the company’s stock valued at $156,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 94.70% of the company’s stock.
LEA has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Lear Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. 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. Seaport Global Securities initiated coverage on Lear Corp. in a report on Tuesday, August 9th. They set a “neutral” rating for the company. Bank of America Corp. downgraded Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Finally, 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. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $128.11.
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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