Lear Corp. (LEA) Director Jonathan F. Foster Sells 1,500 Shares
Lear Corp. (NYSE:LEA) Director Jonathan F. Foster sold 1,500 shares of Lear Corp. stock in a transaction dated 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 transaction, the director now owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock’s 50 day moving average is $116.40 and its 200 day moving average is $112.99. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 9.70 and a beta of 1.25.
Lear Corp. (NYSE:LEA) last announced its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business earned $2.82 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The business also recently announced 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 was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.99%. Lear Corp.’s dividend payout ratio (DPR) is 9.58%.
Several analysts recently issued reports on LEA shares. Bank of America Corp. cut Lear Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Zacks Investment Research cut Lear Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. raised their target price on Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Barclays PLC set a $127.00 target price on Lear Corp. and gave the stock a “hold” rating in a research note on Monday, August 1st. Finally, Citigroup Inc. raised their target price on Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $128.11.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 last quarter. BlackRock Institutional Trust Company N.A. raised its position in Lear Corp. by 5.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,500,988 shares of the company’s stock worth $254,501,000 after buying an additional 132,294 shares during the last quarter. Bank of Montreal Can acquired a new position in Lear Corp. during the second quarter worth $222,829,000. AQR Capital Management LLC raised its position 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 last quarter. Finally, State Street Corp raised its position in Lear Corp. by 4.5% in the first quarter. State Street Corp now owns 1,644,731 shares of the company’s stock worth $182,840,000 after buying an additional 71,570 shares during the last quarter. Institutional investors and hedge funds own 94.70% of the company’s stock.
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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