Lear Corporation (NYSE:LEA) EVP Terrence B. Larkin sold 1,137 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the sale, the executive vice president now owns 6,912 shares of the company’s stock, valued at $1,228,538.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Lear Corporation (NYSE:LEA) opened at $175.93 on Friday. Lear Corporation has a 1-year low of $131.82 and a 1-year high of $181.38. The stock has a market cap of $12,012.30, a P/E ratio of 10.83, a PEG ratio of 1.48 and a beta of 1.43. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48.
Lear (NYSE:LEA) last announced its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. The company had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. Lear had a net margin of 5.79% and a return on equity of 31.79%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. sell-side analysts predict that Lear Corporation will post 16.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, December 7th. Lear’s dividend payout ratio (DPR) is currently 12.47%.
Several institutional investors and hedge funds have recently made changes to their positions in LEA. State of Alaska Department of Revenue grew its position in Lear by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock worth $223,000 after purchasing an additional 20 shares during the period. CIBC World Markets Inc. grew its position in Lear by 0.3% in the 2nd quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock worth $1,798,000 after purchasing an additional 40 shares during the period. Parallel Advisors LLC grew its position in Lear by 3.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after purchasing an additional 42 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Lear by 6.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after purchasing an additional 48 shares during the period. Finally, Pacer Advisors Inc. grew its position in Lear by 2.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock worth $346,000 after purchasing an additional 66 shares during the period. 91.81% of the stock is owned by institutional investors.
Several brokerages have commented on LEA. KeyCorp raised their price objective on shares of Lear from $180.00 to $184.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Cowen began coverage on shares of Lear in a report on Monday, September 25th. They issued an “outperform” rating and a $195.00 price objective for the company. Deutsche Bank raised their price objective on shares of Lear from $167.00 to $176.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Wednesday, October 18th. Finally, Buckingham Research lowered shares of Lear from a “buy” rating to a “neutral” rating and set a $175.00 price objective for the company. in a report on Tuesday, September 26th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $173.13.
Lear 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’s segments include Seating and E-Systems.
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