Lear Corporation (LEA) Hits New 52-Week High at $168.12
Lear Corporation (NYSE:LEA)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $168.12 and last traded at $168.21, with a volume of 243,385 shares changing hands. The stock had previously closed at $166.77.
Several equities analysts recently commented on LEA shares. Morgan Stanley lowered Lear Corporation from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $149.00 to $142.00 in a research note on Thursday, June 8th. Bank of America Corporation lowered Lear Corporation from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $135.00 to $110.00 in a research note on Friday, June 16th. ValuEngine lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. BidaskClub lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Guggenheim started coverage on Lear Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $167.00 target price for the company. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $152.67.
The company has a market capitalization of $11.59 billion, a P/E ratio of 11.35 and a beta of 1.31. The firm has a 50 day moving average of $149.19 and a 200 day moving average of $144.41.
Lear Corporation (NYSE:LEA) last posted its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $3.66 earnings per share. On average, analysts expect that Lear Corporation will post $16.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Tuesday, August 29th. Lear Corporation’s dividend payout ratio is currently 13.28%.
In other news, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the sale, the director now directly owns 4,100 shares of the company’s stock, valued at $683,511. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.
Large investors have recently modified their holdings of the company. Toronto Dominion Bank grew its position in shares of Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after purchasing an additional 148 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Lear Corporation by 6.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after purchasing an additional 48 shares during the last quarter. Global X Management Co. LLC grew its position in shares of Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after purchasing an additional 204 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Lear Corporation in the second quarter valued at about $126,000. Finally, Van ECK Associates Corp grew its position in shares of Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after purchasing an additional 51 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.
About Lear Corporation
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’s segments include Seating and E-Systems.
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