Wall Street Zen upgraded shares of Lear (NYSE:LEA – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Lear from $153.00 to $159.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. TD Cowen upgraded shares of Lear from a “hold” rating to a “buy” rating and boosted their price target for the company from $138.00 to $165.00 in a report on Tuesday, May 26th. Weiss Ratings downgraded shares of Lear from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Barclays upped their target price on Lear from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada lifted their price target on Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $147.08.
Check Out Our Latest Stock Analysis on LEA
Lear Stock Performance
Lear (NYSE:LEA – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.30. Lear had a return on equity of 14.18% and a net margin of 2.35%.The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. Lear’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lear will post 14.86 EPS for the current fiscal year.
Lear Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd will be given a $0.77 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $3.08 dividend on an annualized basis and a yield of 2.4%. Lear’s payout ratio is 28.70%.
Insider Buying and Selling at Lear
In other news, CEO Raymond Scott sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $135.37, for a total transaction of $6,768,500.00. Following the sale, the chief executive officer directly owned 49,789 shares of the company’s stock, valued at $6,739,936.93. This represents a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Conrad L. Mallett, Jr. sold 1,646 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $121.35, for a total value of $199,742.10. Following the sale, the director directly owned 37 shares of the company’s stock, valued at $4,489.95. This represents a 97.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.02% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lear
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Lear during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Lear during the fourth quarter worth $30,000. Global Retirement Partners LLC boosted its holdings in Lear by 942.3% in the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares during the period. WealthCollab LLC bought a new stake in shares of Lear in the second quarter valued at approximately $28,000. Finally, Allworth Financial LP grew its holdings in shares of Lear by 62.6% during the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.
Trending Headlines about Lear
Here are the key news stories impacting Lear this week:
- Neutral Sentiment: The news feed contains no announcements concerning Lear Corporation’s earnings, vehicle-production outlook, contracts, restructuring, acquisitions, or analyst recommendations. The recent articles about Meta’s AI financing, education legislation, and unrelated personal-finance and entertainment topics are not directly relevant to LEA.
- Neutral Sentiment: Several headlines use “Lear” in references to Norman Lear or Shakespeare’s King Lear; these are unrelated to the automotive supplier and should not be interpreted as business news for Lear Corporation.
About Lear
Lear Corporation is a global automotive technology company that designs and manufactures systems and components used in passenger vehicles. Its business is organized primarily around two areas: seating and E-Systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that help manage power, data and connectivity within vehicles.
The company’s E-Systems offerings include low- and high-voltage wiring systems, connection systems, battery and power-management solutions, electronic control modules, displays and software-enabled technologies.
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