Lear Co. (NYSE:LEA) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 1,465,600 shares, a decrease of 8.6% from the May 30th total of 1,603,500 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average trading volume of 614,900 shares, the short-interest ratio is presently 2.4 days.
Several hedge funds have recently bought and sold shares of LEA. Hudson Capital Management LLC raised its holdings in Lear by 16.5% in the 2nd quarter. Hudson Capital Management LLC now owns 12,085 shares of the auto parts company’s stock valued at $1,683,000 after buying an additional 1,711 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in Lear by 9.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,258 shares of the auto parts company’s stock valued at $2,264,000 after buying an additional 1,375 shares during the last quarter. Exane Derivatives raised its holdings in Lear by 2.0% in the 2nd quarter. Exane Derivatives now owns 25,118 shares of the auto parts company’s stock valued at $3,497,000 after buying an additional 481 shares during the last quarter. Scout Investments Inc. raised its holdings in Lear by 470.8% in the 2nd quarter. Scout Investments Inc. now owns 174,487 shares of the auto parts company’s stock valued at $24,301,000 after buying an additional 143,917 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in Lear by 0.9% in the 2nd quarter. Empirical Finance LLC now owns 16,172 shares of the auto parts company’s stock valued at $2,252,000 after buying an additional 141 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.
Shares of LEA stock traded up $4.99 on Friday, reaching $136.42. The company had a trading volume of 591,521 shares, compared to its average volume of 516,889. The firm has a market capitalization of $8.18 billion, a PE ratio of 7.49, a PEG ratio of 3.00 and a beta of 1.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 1.10. Lear has a one year low of $114.45 and a one year high of $192.73. The firm has a 50-day simple moving average of $133.06.
Lear (NYSE:LEA) last posted its earnings results on Friday, April 26th. The auto parts company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.06 by ($0.06). The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.25 billion. Lear had a return on equity of 25.28% and a net margin of 4.94%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same period last year, the company posted $5.10 EPS. On average, sell-side analysts forecast that Lear will post 17.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.20%. Lear’s dividend payout ratio (DPR) is currently 16.47%.
Several equities research analysts recently weighed in on LEA shares. Longbow Research reaffirmed a “buy” rating and set a $190.00 price objective on shares of Lear in a research report on Sunday, June 30th. Deutsche Bank raised shares of Arista Networks from a “sell” rating to a “hold” rating and upped their price objective for the stock from $190.00 to $225.00 in a research report on Tuesday, March 19th. Argus started coverage on shares of Lear in a research report on Thursday, March 28th. They set a “hold” rating for the company. Morgan Stanley set a $12.00 price objective on shares of Adient and gave the stock a “sell” rating in a research report on Wednesday, June 26th. Finally, Credit Suisse Group started coverage on shares of Magna International in a research report on Wednesday, June 26th. They set a “neutral” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Lear has an average rating of “Buy” and a consensus target price of $172.13.
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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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