Lear Corporation (NYSE:LEA – Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $129.48 and traded as high as $144.09. Lear shares last traded at $141.6110, with a volume of 527,228 shares.
Key Lear News
Here are the key news stories impacting Lear this week:
- Positive Sentiment: Zacks highlighted Lear as a “fast-paced momentum at a bargain” stock, suggesting the company has recent price strength while still looking attractively valued. Article Title
- Positive Sentiment: Seeking Alpha published a bullish take, “Lear Is In High Gear,” which adds to the view that investors are warming to the auto supplier’s fundamentals and momentum. Article Title
- Positive Sentiment: Another recent article framed Lear as a top growth stock for the long term, reinforcing a constructive investor outlook on LEA. Article Title
- Neutral Sentiment: Several other items in the feed were unrelated to Lear Corporation or its business and are unlikely to affect the stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on LEA shares. Wells Fargo & Company boosted their price target on shares of Lear from $133.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Morgan Stanley set a $130.00 target price on shares of Lear in a research note on Monday, May 4th. Royal Bank Of Canada boosted their target price on shares of Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Lear in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lear from $153.00 to $159.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Lear presently has an average rating of “Hold” and an average price target of $144.62.
Lear Trading Down 1.4%
The company has a market cap of $7.09 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.72 and a beta of 1.25. The company’s 50 day simple moving average is $138.51 and its two-hundred day simple moving average is $129.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05.
Lear (NYSE:LEA – Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.12 EPS. As a group, sell-side analysts anticipate that Lear Corporation will post 14.81 EPS for the current fiscal year.
Lear Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is currently 30.80%.
Insider Transactions at Lear
In related news, CEO Raymond E. Scott sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value of $6,768,500.00. Following the sale, the chief executive officer owned 49,789 shares in the company, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the transaction, the director directly owned 1,683 shares in the company, valued at approximately $237,875.22. The trade was a 10.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 62,026 shares of company stock valued at $8,498,248. Corporate insiders own 1.02% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in LEA. Altshuler Shaham Ltd acquired a new stake in Lear during the 4th quarter worth approximately $25,000. WealthCollab LLC acquired a new position in shares of Lear in the second quarter worth $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Lear in the fourth quarter worth $30,000. Allworth Financial LP increased its position in shares of Lear by 62.6% during the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 119 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of Lear by 942.3% during the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.
Lear Company Profile
Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.
The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.
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