Traders Sell Lear (LEA) on Strength (LEA)
Traders sold shares of Lear Co. (NYSE:LEA) on strength during trading hours on Thursday. $45.12 million flowed into the stock on the tick-up and $58.40 million flowed out of the stock on the tick-down, for a money net flow of $13.28 million out of the stock. Of all equities tracked, Lear had the 0th highest net out-flow for the day. Lear traded up $2.48 for the day and closed at $137.54
Several analysts have weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $243.00 price target on shares of Lear in a report on Friday, July 27th. Morgan Stanley raised Lear from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $209.00 to $214.00 in a report on Tuesday, July 31st. Buckingham Research set a $150.00 price target on Lear and gave the company a “hold” rating in a report on Wednesday, September 19th. ValuEngine cut Lear from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. Finally, Wolfe Research assumed coverage on Lear in a report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $204.88.
The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 7.90 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.44.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Thursday, August 30th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.09%. Lear’s dividend payout ratio is 16.47%.
Several hedge funds and other institutional investors have recently made changes to their positions in LEA. FMR LLC grew its position in Lear by 23.3% during the 2nd quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock worth $297,203,000 after acquiring an additional 302,664 shares during the last quarter. Bank of Montreal Can bought a new position in Lear during the 2nd quarter worth approximately $266,584,000. Boston Partners grew its position in Lear by 36.6% during the 2nd quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock worth $254,274,000 after acquiring an additional 366,768 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Lear by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 977,485 shares of the auto parts company’s stock worth $181,649,000 after acquiring an additional 15,274 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its position in Lear by 65.8% during the 2nd quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock worth $171,785,000 after acquiring an additional 366,915 shares during the last quarter. 91.36% of the stock is currently owned by institutional investors.
About Lear (NYSE:LEA)
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
Read More: Initial Public Offering (IPO)
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