UBS Group began coverage on shares of Lear (NYSE:LEA – Free Report) in a research report released on Tuesday morning, FlyOnTheWall reports. The brokerage issued a neutral rating on the auto parts company’s stock.
A number of other equities research analysts also recently issued reports on the stock. BNP Paribas upgraded shares of Lear from a neutral rating to an outperform rating in a research report on Thursday, June 1st. Wells Fargo & Company increased their price objective on shares of Lear from $144.00 to $164.00 and gave the stock an equal weight rating in a research note on Wednesday, August 2nd. Citigroup raised their price objective on shares of Lear from $152.00 to $158.00 and gave the stock a neutral rating in a research report on Wednesday, August 2nd. Barclays boosted their price objective on Lear from $150.00 to $165.00 in a research note on Monday, July 10th. Finally, StockNews.com started coverage on Lear in a research note on Thursday, August 17th. They issued a buy rating for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $162.60.
Lear Stock Performance
Lear (NYSE:LEA – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.12. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.89 billion. Lear had a net margin of 2.32% and a return on equity of 13.84%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.79 earnings per share. On average, equities analysts forecast that Lear will post 11.83 earnings per share for the current year.
Lear Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, August 30th. Lear’s dividend payout ratio (DPR) is currently 35.16%.
Insider Buying and Selling at Lear
In other Lear news, CEO Raymond E. Scott sold 16,740 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $142.80, for a total value of $2,390,472.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Lear news, EVP Frank C. Orsini sold 12,332 shares of Lear stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $155.40, for a total transaction of $1,916,392.80. Following the completion of the transaction, the executive vice president now owns 7,809 shares in the company, valued at approximately $1,213,518.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond E. Scott sold 16,740 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $142.80, for a total transaction of $2,390,472.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,132 shares of company stock worth $6,321,732. 0.75% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. American Century Companies Inc. raised its stake in shares of Lear by 4.0% during the first quarter. American Century Companies Inc. now owns 10,192 shares of the auto parts company’s stock valued at $1,454,000 after acquiring an additional 390 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Lear during the 1st quarter valued at $657,000. Bank of Montreal Can grew its position in shares of Lear by 81.0% during the 1st quarter. Bank of Montreal Can now owns 19,834 shares of the auto parts company’s stock valued at $2,890,000 after acquiring an additional 8,878 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Lear by 47.8% during the 1st quarter. Raymond James Trust N.A. now owns 1,948 shares of the auto parts company’s stock valued at $277,000 after buying an additional 630 shares in the last quarter. Finally, Aviva PLC lifted its stake in Lear by 62.8% in the 1st quarter. Aviva PLC now owns 39,256 shares of the auto parts company’s stock worth $5,598,000 after purchasing an additional 15,137 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.
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