Lear Co. (NYSE:LEA) – Analysts at Jefferies Financial Group reduced their Q2 2021 EPS estimates for shares of Lear in a research note issued to investors on Tuesday, April 6th. Jefferies Financial Group analyst D. Kelley now anticipates that the auto parts company will earn $2.64 per share for the quarter, down from their prior forecast of $3.42. Jefferies Financial Group has a “Buy” rating and a $210.00 price objective on the stock.
Several other brokerages have also recently weighed in on LEA. Credit Suisse Group lifted their price target on Lear from $180.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, February 8th. Zacks Investment Research lowered Lear from a “strong-buy” rating to a “hold” rating and set a $166.00 price objective for the company. in a report on Tuesday, December 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Lear in a research note on Thursday, January 14th. JPMorgan Chase & Co. upgraded shares of Lear from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $149.00 to $210.00 in a research report on Friday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Lear from $150.00 to $165.00 and gave the company a “hold” rating in a research report on Wednesday, January 20th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $167.06.
Lear (NYSE:LEA) last announced its quarterly earnings data on Wednesday, February 3rd. The auto parts company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.19. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.02 billion. Lear had a return on equity of 6.17% and a net margin of 0.50%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 EPS.
Several institutional investors have recently modified their holdings of LEA. OLD National Bancorp IN bought a new stake in Lear during the fourth quarter worth about $249,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Lear by 149.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,404 shares of the auto parts company’s stock worth $5,312,000 after buying an additional 19,999 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in Lear by 238.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 10,775 shares of the auto parts company’s stock valued at $1,175,000 after buying an additional 7,590 shares in the last quarter. UBS Oconnor LLC boosted its holdings in Lear by 106.1% in the fourth quarter. UBS Oconnor LLC now owns 30,913 shares of the auto parts company’s stock worth $4,916,000 after acquiring an additional 15,913 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Lear in the third quarter worth $4,371,000. Institutional investors own 92.77% of the company’s stock.
In other Lear news, CEO Raymond E. Scott sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $185.22, for a total value of $1,852,200.00. Following the completion of the sale, the chief executive officer now directly owns 34,395 shares in the company, valued at $6,370,641.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas A. Didonato sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $184.14, for a total value of $3,682,800.00. Following the completion of the transaction, the senior vice president now owns 16,214 shares of the company’s stock, valued at approximately $2,985,645.96. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 23rd. Investors of record on Thursday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, March 3rd. Lear’s dividend payout ratio (DPR) is currently 7.15%.
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, key seat 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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