Lear Corp. (LEA) Now Covered by Robert W. Baird
Stock analysts at Robert W. Baird began coverage on shares of Lear Corp. (NYSE:LEA) in a research note issued on Monday. The firm set a “neutral” rating and a $133.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 10.51% from the company’s previous close.
Several other brokerages also recently commented on LEA. Goldman Sachs Group Inc. downgraded Lear Corp. from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $116.00 to $107.00 in a report on Thursday. Zacks Investment Research downgraded Lear Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Bank of America Corp. downgraded Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Seaport Global Securities assumed coverage on Lear Corp. in a report on Tuesday, August 9th. They issued a “neutral” rating on the stock. Finally, Citigroup Inc. boosted their target price on Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Lear Corp. has a consensus rating of “Hold” and an average target price of $128.00.
Lear Corp. (NYSE:LEA) traded down 0.55% during mid-day trading on Monday, reaching $120.35. The company had a trading volume of 326,704 shares. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $127.00. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 9.63 and a beta of 1.22. The company’s 50 day moving average is $117.57 and its 200 day moving average is $113.35.
Lear Corp. (NYSE:LEA) last announced its earnings results on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.32 by $0.34. The business 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%. Lear Corp.’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 EPS. Equities analysts predict that Lear Corp. will post $13.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the sale, the director now owns 4,025 shares in the company, valued at approximately $479,941. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Lear Corp. by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,704,450 shares of the company’s stock valued at $580,484,000 after buying an additional 502,415 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 valued at $254,501,000 after buying an additional 132,294 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Lear Corp. during the second quarter valued at approximately $222,829,000. AQR Capital Management LLC boosted its stake in shares of Lear Corp. by 30.8% in the second quarter. AQR Capital Management LLC now owns 1,668,029 shares of the company’s stock valued at $169,739,000 after buying an additional 392,597 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Lear Corp. by 4.5% in the first quarter. State Street Corp now owns 1,644,731 shares of the company’s stock valued at $182,840,000 after buying an additional 71,570 shares during the last quarter. Institutional investors 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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