Zacks Investment Research upgraded shares of Lear Corp. (NYSE:LEA) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $136.00 price objective on the stock.
According to Zacks, “Lear Corporation is a leading global supplier of automotive seating systems, electrical distribution systems and electronics. The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. Lear Corporation is headquartered in Southfield, Michigan. “
A number of other equities analysts also recently weighed in on LEA. Citigroup Inc. upped their target price on Lear Corp. from $145.00 to $153.00 and gave the company a buy rating in a report on Tuesday, August 2nd. Barclays PLC set a $127.00 target price on Lear Corp. and gave the company a hold rating in a report on Monday, August 1st. JPMorgan Chase & Co. upped their target price on Lear Corp. from $129.00 to $130.00 and gave the company a neutral rating in a report on Friday, July 29th. Seaport Global Securities assumed coverage on Lear Corp. in a report on Tuesday, August 9th. They issued a neutral rating on the stock. Finally, Bank of America Corp. downgraded Lear Corp. from a buy rating to a neutral rating in a report on Tuesday, June 21st. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $129.11.
Lear Corp. (NYSE:LEA) opened at 121.25 on Tuesday. The stock’s 50 day moving average is $116.78 and its 200-day moving average is $113.14. The firm has a market capitalization of $8.67 billion, a PE ratio of 9.70 and a beta of 1.22. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $127.00.
Lear Corp. (NYSE:LEA) last issued its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.34. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. Equities analysts expect that Lear Corp. will post $13.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.99%. Lear Corp.’s dividend payout ratio is 9.58%.
In other news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was 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 directly owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of LEA. Investec Asset Management North America Inc. acquired a new stake in Lear Corp. during the first quarter valued at $758,000. Investec Asset Management LTD acquired a new stake in Lear Corp. during the first quarter valued at $62,828,000. M&T Bank Corp boosted its stake in Lear Corp. by 2.5% in the first quarter. M&T Bank Corp now owns 25,141 shares of the company’s stock valued at $2,795,000 after buying an additional 613 shares in the last quarter. Landscape Capital Management L.L.C. boosted its stake in Lear Corp. by 91.3% in the first quarter. Landscape Capital Management L.L.C. now owns 8,800 shares of the company’s stock valued at $978,000 after buying an additional 4,200 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Lear Corp. by 1,158.9% in the first quarter. Bessemer Group Inc. now owns 9,668 shares of the company’s stock valued at $1,074,000 after buying an additional 8,900 shares in the last quarter. 94.70% of the stock is owned by institutional investors.
Lear Corp. 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 operates through two segments: seating and electrical.
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