Investors Sell Lear Corporation (LEA) on Strength (LEA)
Traders sold shares of Lear Corporation (NYSE:LEA) on strength during trading on Wednesday. $23.82 million flowed into the stock on the tick-up and $51.54 million flowed out of the stock on the tick-down, for a money net flow of $27.72 million out of the stock. Of all stocks tracked, Lear Corporation had the 29th highest net out-flow for the day. Lear Corporation traded up $1.70 for the day and closed at $175.97
Several brokerages recently weighed in on LEA. Jefferies Group LLC began coverage on Lear Corporation in a research report on Thursday, September 28th. They set a “buy” rating and a $197.00 price objective for the company. UBS AG downgraded Lear Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $158.00 to $182.00 in a research report on Tuesday. Buckingham Research downgraded Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Barclays PLC upped their price objective on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Finally, BidaskClub upgraded Lear Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $161.47.
The stock has a market capitalization of $11.98 billion, a PE ratio of 11.72 and a beta of 1.35. The company’s 50-day moving average is $157.79 and its 200-day moving average is $146.58.
Lear Corporation (NYSE:LEA) last released its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the company posted $3.66 EPS. Lear Corporation’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Lear Corporation will post $16.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.
In other news, Director Jonathan F. Foster sold 2,854 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the completion of the sale, the director now owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the completion of the sale, the director now directly owns 4,100 shares of the company’s stock, valued at approximately $683,511. The disclosure for this sale can be found here. In the last three months, insiders sold 9,404 shares of company stock valued at $1,601,681. 0.49% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Lear Corporation by 6.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after acquiring an additional 48 shares during the last quarter. Toronto Dominion Bank raised its position in Lear Corporation by 10.9% during the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 84 shares during the last quarter. Global X Management Co. LLC raised its position in Lear Corporation by 30.3% during the 1st quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after purchasing an additional 204 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Lear Corporation during the 2nd quarter valued at approximately $126,000. Finally, Van ECK Associates Corp raised its position in Lear Corporation by 5.4% during the 1st quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after purchasing an additional 51 shares during the last quarter. 94.30% of the stock is owned by institutional investors.
Lear Corporation 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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