Lear Corp. to Issue Quarterly Dividend of $0.30 (LEA)
Lear Corp. (NYSE:LEA) declared a quarterly dividend on Thursday, November 17th. Stockholders of record on Friday, December 9th will be paid a dividend of 0.30 per share on Friday, December 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.95%.
Lear Corp. (NYSE:LEA) opened at 126.54 on Friday. The stock’s 50 day moving average is $119.91 and its 200-day moving average is $115.29. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 9.61 and a beta of 1.29. Lear Corp. has a 52 week low of $93.54 and a 52 week high of $127.00.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $3.19 EPS for the quarter, beating the Zacks’ consensus estimate of $2.96 by $0.23. Lear Corp. had a net margin of 5.26% and a return on equity of 31.86%. The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the firm posted $2.56 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Lear Corp. will post $13.69 EPS for the current year.
A number of research analysts have recently issued reports on the stock. Goldman Sachs Group Inc. downgraded shares of Lear Corp. from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $116.00 to $107.00 in a research report on Thursday, October 6th. Zacks Investment Research upgraded shares of Lear Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Thursday, October 13th. Royal Bank Of Canada downgraded shares of Lear Corp. from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $120.00 to $121.00 in a research report on Friday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $127.00 price target (up from $121.00) on shares of Lear Corp. in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $126.50.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total transaction of $178,860.00. Following the transaction, the director now owns 4,025 shares of the company’s stock, valued at approximately $479,941. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in 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. WFG Advisors LP boosted its position in Lear Corp. by 24.3% in the second quarter. WFG Advisors LP now owns 1,698 shares of the company’s stock valued at $173,000 after buying an additional 332 shares during the last quarter. Dai Ichi Life Holdings Inc. bought a new position in Lear Corp. during the third quarter valued at approximately $207,000. Nomura Holdings Inc. bought a new position in Lear Corp. during the second quarter valued at approximately $246,000. Finally, The Manufacturers Life Insurance Company bought a new position in Lear Corp. during the third quarter valued at approximately $328,000. 98.74% of the stock is currently owned by hedge funds and other 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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