Lear Corp. (NYSE:LEA) issued its quarterly earnings results on Wednesday. The company reported $3.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.23. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the prior year, the business earned $2.56 EPS. Lear Corp.’s revenue was up 4.5% on a year-over-year basis.

Shares of Lear Corp. (NYSE:LEA) opened at 120.62 on Thursday. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00. The stock has a market capitalization of $8.63 billion, a P/E ratio of 9.65 and a beta of 1.22. The firm’s 50-day moving average price is $117.87 and its 200 day moving average price is $114.15.

Earnings History for Lear Corp. (NYSE:LEA)

In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total value of $178,860.00. Following the transaction, the director now owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in LEA. Wagner Bowman Management Corp increased its stake in shares of Lear Corp. by 1.1% in the third quarter. Wagner Bowman Management Corp now owns 4,689 shares of the company’s stock valued at $568,000 after buying an additional 50 shares during the period. Malaga Cove Capital LLC increased its stake in shares of Lear Corp. by 33.0% in the third quarter. Malaga Cove Capital LLC now owns 36,093 shares of the company’s stock valued at $4,344,000 after buying an additional 8,956 shares during the period. Nationwide Fund Advisors increased its stake in shares of Lear Corp. by 17.6% in the third quarter. Nationwide Fund Advisors now owns 97,045 shares of the company’s stock valued at $11,764,000 after buying an additional 14,542 shares during the period. Acadian Asset Management LLC increased its stake in shares of Lear Corp. by 6.2% in the third quarter. Acadian Asset Management LLC now owns 42,703 shares of the company’s stock valued at $5,177,000 after buying an additional 2,490 shares during the period. Finally, Alpha Windward LLC increased its stake in shares of Lear Corp. by 6.3% in the third quarter. Alpha Windward LLC now owns 4,065 shares of the company’s stock valued at $493,000 after buying an additional 240 shares during the period. 94.70% of the stock is currently owned by institutional investors.

Several equities research analysts have weighed in on LEA shares. Zacks Investment Research downgraded Lear Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Barclays PLC set a $127.00 price objective on Lear Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Seaport Global Securities began coverage on Lear Corp. in a research report on Tuesday, August 9th. They set a “neutral” rating for the company. Robert W. Baird began coverage on Lear Corp. in a research report on Monday, October 10th. They set a “neutral” rating and a $133.00 price objective for the company. Finally, RBC Capital Markets cut Lear Corp. from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $120.00 to $121.00 in a research report on Friday, October 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $125.45.

Lear Corp. 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 operates through two segments: seating and electrical.

5 Day Chart for NYSE:LEA

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