Stocks of Lear Corporation (NYSE:LEA) traded higher last session on Wall Street, down -1.08% to $141.11.
LEA stock price is now 3.62% away from the 50-day moving average and 3.97% away from the 200-day moving average. The market capitalization of the company currently stands at $8.20B.
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With the price target of $155, Barclays recently initiated with Equal Weight rating for Lear Corporation (NYSE: LEA). On February 06, 2023, Evercore ISI Downgraded its previous ‘Outperform’ rating to ‘In-line’ on the stock reducing its target price from $150 to quote $145, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’.
In other news, Davis Alicia J., Sr VP & Chief Strategy Officer sold 1,390 shares of the company’s stock on Feb 23. The stock was sold for $201,022 at an average price of $144.62. Upon completion of the transaction, the Sr VP & Chief Strategy Officer now directly owns 3,341 shares in the company, valued at $0.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 14, VP, Treasurer VIdershain Marianne sold 267 shares of the business’s stock. A total of $37,764 was realized by selling the stock at an average price of $141.44. This leaves the insider owning 272 shares of the company worth $38381.92. Insiders disposed of 104,732 shares of company stock worth roughly $14.78 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LEA stock. A new stake in Lear Corporation shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $28,654,000. TWO SIGMA INVESTMENTS, LP invested $7,925,000 in shares of LEA during the first quarter. In the first quarter, PARKWOOD LLC acquired a new stake in Lear Corporation valued at approximately $7,217,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in LEA for approximately $5,840,000. MOON CAPITAL MANAGEMENT LP purchased a new stake in LEA valued at around $5,801,000 in the second quarter.
Monday’s opening bell rang with an opening price of $142.93 for Lear Corporation (NYSE: LEA). During the past 12 months, Lear Corporation has had a low of $114.67 and a high of $158.44. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 1.30, and a quick ratio of 1.00. The fifty day moving average price for LEA is $136.18 and a two-hundred day moving average price translates $135.72 for the stock.
The latest earnings results from Lear Corporation (NYSE: LEA) was released for Dec, 2022. According to the Auto Parts Company, earnings per share came in at $2.81, beating analysts’ expectations of $2.57 by 0.24. This compares to $0.84 EPS in the same period last year. The net profit margin was 1.60% and return on equity was 7.30% for LEA. The company reported revenue of $5.37 billion for the quarter, compared to $4.88 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.06 percent. For the current quarter, analysts expect LEA to generate $5.3B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/29/2023. Investors who held shares on 03/10/2023 were paid a $0.77 dividend. On an annualized basis, this represents a $3.08 dividend and a 2.18% percent yield. There was an ex-dividend date of 03/09/2023 for this dividend. In terms of dividend payout ratio, LEA is presently at 42.00%.
Lear Corporation(LEA) 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. The company’s E-Systems segment provides electrical distribution and connection systems that route electrical signals and networks; and manage electrical power within the vehicle for various powertrains. This segment’s products comprise wire harnesses, terminals and connectors, engineered components, and junction boxes; electronic system products, including body domain control modules, smart and passive junction boxes, gateway and communication modules, integrated power modules, and high voltage switching and power control systems. It also offers software and connected services comprising Xevo Market, an in-vehicle commerce and service platform; and software and services for the cloud, vehicles, and mobile devices. In addition, this segment provides cybersecurity software; advanced vehicle positioning for automated and autonomous driving applications; and short-range communication and cellular protocols for vehicle connectivity. It offers its products and services under the XEVO, GUILFORD, EAGLE OTTAWA, ConfigurE+, INTUTM, LEAR CONNEXUSTM, EXO, JOURNEYWARE, ProTec, SMART JUNCTION BOX, STRUCSURE, AVENTINO, and TeXstyle brands. Lear Corporation was founded in 1917 and is headquartered in Southfield, Michigan.
