Lear Corporation (NYSE:LEA – Get Free Report) has received an average rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $140.5385.
Several research firms recently issued reports on LEA. Morgan Stanley set a $130.00 target price on Lear in a research report on Monday, May 4th. Benchmark began coverage on Lear in a research report on Thursday, February 19th. They set a “buy” rating and a $170.00 target price for the company. Argus upgraded Lear to a “strong-buy” rating in a research report on Monday, February 9th. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 target price on Lear in a research report on Monday, May 4th.
Read Our Latest Stock Report on LEA
Lear Stock Performance
Lear (NYSE:LEA – Get Free Report) last released its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the business posted $3.12 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Lear will post 14.57 EPS for the current fiscal year.
Lear Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is currently 30.80%.
Trending Headlines about Lear
Here are the key news stories impacting Lear this week:
- Positive Sentiment: Zacks highlighted Lear as a top momentum stock for the long term, which can support investor confidence in the company’s technical and style-score profile. Why Lear (LEA) is a Top Momentum Stock for the Long-Term
- Positive Sentiment: Another momentum-focused article echoed that Lear may remain attractive to long-term investors, reinforcing the stock’s relative strength narrative. Why Lear (LEA) is a top momentum stock for the long term
- Neutral Sentiment: An article about Tulane’s production of King Lear is unrelated to Lear Corporation’s fundamentals or stock performance. King Lear opens season at Tulane’s New Orleans Shakespeare Festival
- Negative Sentiment: Bank of America Securities moved Lear to Hold, which may have dampened enthusiasm and contributed to the stock’s weakness. Lear (LEA) Gets a Hold from Bank of America Securities
Insider Transactions at Lear
In other Lear news, VP Marianne Vidershain sold 1,590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total transaction of $214,650.00. Following the completion of the transaction, the vice president owned 1,862 shares in the company, valued at $251,370. This trade represents a 46.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Alicia J. Davis sold 6,630 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $132.98, for a total value of $881,657.40. Following the transaction, the senior vice president owned 9,972 shares of the company’s stock, valued at $1,326,076.56. This represents a 39.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 25,264 shares of company stock worth $3,400,687. 1.02% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Lear
Institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Lear during the 4th quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new position in Lear during the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC grew its holdings in Lear by 942.3% during the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after buying an additional 245 shares in the last quarter. WealthCollab LLC purchased a new position in Lear during the 2nd quarter valued at approximately $28,000. Finally, Allworth Financial LP grew its holdings in Lear by 62.6% during the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.
About Lear
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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