Lear headquarters building
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Formerly called
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American Metal Products |
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Type
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Public Fortune 500 |
Traded as | NYSE: LEA Russell 2500 Component |
Industry | Manufacturing |
Founded | Detroit, Michigan (1917 (1917)) |
Headquarters | Southfield, Michigan, United States of America |
Number of locations
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240 locations in 36 countries |
Area served
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International |
Key people
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Matthew J. Simoncini, President, Chief Executive Officer and Director; Terry Larkin, Executive Vice President, Business Development and General Counsel |
Services | Supplier of automotive seating and electrical |
Revenue | $18.6 billion in 2016 |
Number of employees
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140,000 |
Divisions | Seating and Electrical |
Website | www |
Lear Corporation headquartered in Southfield, Michigan, United States of America, is a Fortune 500 company, engaged in the business of manufacturing and distribution of automotive seating and electrical distribution systems. As of 2014, the company had 221 manufacturing facilities in 36 countries around the globe, staffed by 113,401 employees. They recorded an aggregate global sales of US$16.2 billion in 2013. Lear has two major divisions: the seating business segment and the electrical business segment.
Lear Corporation was launched as American Metal Products in 1917 in Detroit, Michigan. At the time of its founding it was engaged in the manufacture of tubular, welded and stamped assemblies for the aircraft and automobile industries.
Lear grew during the 1980s and 1990s through a series of acquisitions. The company sought to become a supplier of complete interior automotive systems, that is, a supplier of seating, electrical, flooring, interior trim, instrument panels, etc., to original equipment manufacturing (OEM) auto companies.
On March 16, 1999, Lear announced it would acquire United Technologies Automotive, a subsidiary of United Technologies Corporation that produced dashboards, electrical distribution systems, motors and air-flow parts, interior door panels and switches, for $2.3 billion. Lear announced on May 4, 1999, that it had completed the acquisition.
On April 5, 2004, Lear announced it would pay $220 million for Wuppertal, Germany-based Grote & Hartmann, a maker of electrical components. On July 6, 2004, Lear announced it had completed the transaction.
As of late 2005, most OEM auto companies had indicated that they no longer wanted to purchase total interiors from any one company. As this was Lear's primary purpose in assembling those three divisions, and the Interior Systems Division was not profitable, the company began seeking to get rid of this division.
In early 2007, Lear Corporation completed the transfer of substantially all of its former North American Interior Systems Division to International Automotive Components Group (IAC), a joint venture of Lear, WL Ross & Co., and Franklin Mutual Advisers. The deal involved 26 manufacturing plants and two Chinese joint ventures. Lear also contributed $27 million in cash for a 25 percent interest in IAC and warrants for an additional 7 percent.
Also in 2007, Lear's board of directors agreed to a $2.3 billion takeover offer from American Real Estate Partners, an affiliate of financier Carl Icahn, subject to shareholder approval. Lear has said it will continue to talk to other interested parties, however, Icahn would receive a $100 million fee should another offer be accepted. The deal was later voted down by shareholders.
On July 2, 2009 Bloomberg News reported that Lear Corp. planned to file for Chapter 11 bankruptcy after reaching an agreement with representatives of secured lenders and bondholders. On November 9, 2009, Lear announced it had emerged from bankruptcy.
On August 10, 2011, Lear announced that senior vice president and chief financial officer Matt Simoncini had been elected chief executive officer and president, effective September 1, 2011.
In 2012, Automotive News awarded Lear a Premier Automotive Suppliers' Contribution to Excellence (PACE) Award for innovation, technological advancement and business performance for its Solid State Smart Junction Box (S3JB), noting Lear's "S3JB junction box has 1) integrated solid state fuse technology to eliminate relays, 2) created a new package that no longer has to be accessible from the driver compartment which decreases nuisance calls and lowers electrical device warranty returns, 3) created and installed a smart software logic with detailed diagnostics to permit a 'fail safe operation,' and 4) designed a single state board design with patented thermal aspects that permits multiple system and device connections and various configurations to ease manufacturing processes."
Lear acquired automotive and specialty fabrics company Guilford Mills for $257 million in May 2012. In addition to automotive fabric applications, Guilford produces fabrics for markets including water filtration, window covering, performance apparel, medical and other industrial applications.
In August 2014, it was announced that Lear Corp would acquire automotive leather supplier Eagle Ottawa LLC for a fee of $850 million.
In May 2015 the company announced that it will open a new automotive plant in Gostivar, Macedonia in the summer of 2015. This is Lear's first facility in Macedonia.
In August 2015 the company acquired the intellectual property and engineering team of Autonet Mobile. Autonet Mobile was a developer of connected car solutions using cellular, WiFi, bluetooth and cloud connected solutions.
In November 2015 the company acquired Arada Systems. Arada Systems was a technology company specializing in vehicle-to-vehicle and vehicle-to-infrastructure (V2V and V2I, together V2X) communication systems. They developed hardware and software solutions for V2X utilizing their expertise in 5.9GHz dedicated short range communication (DSRC) and other wired and wireless technologies such as CAN and GPS.
In February 2017 it was announced that Lear Corp signed a definitive agreement to acquire Grupo Antolin's automotive seating business. The transaction was valued at €286 million on a cash and debt free basis. Lear Corp funded the transaction with cash on hand.
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q3 2022 | 2022-10-31 | Future report Set alerts | |
Q2 2022 | 2022-08-02 | 1.79 | 1.79 |
Q1 2022 | 2022-05-03 | 1.80 | 1.80 |
Q4 2021 | 2022-02-08 | 1.22 | 1.22 |
Q3 2021 | 2021-11-02 | 0.53 | 0.53 |
Q2 2021 | 2021-08-06 | 2.45 | 2.45 |
Q1 2021 | 2021-05-07 | 3.73 | 3.73 |
Q4 2020 | 2021-02-04 | 3.66 | 3.66 |
Q3 2020 | 2020-10-30 | 0.00 | 0.00 |
Q2 2020 | 2020-08-04 | -4.14 | -4.89 |
2016-06-21 | Downgrade | Bank of America | Buy to Neutral | |
2016-06-21 | Downgrade | Bank of America Corp. | Buy to Neutral | |
2016-05-03 | Boost Price Target | Goldman Sachs | Neutral | $107.00 to $122.00 |
2016-05-03 | Boost Price Target | Goldman Sachs Group Inc. | Neutral | $107.00 to $122.00 |
2016-04-28 | Reiterated Rating | Barclays | Neutral to Equal Weight | $119.00 to $125.00 |
2016-04-28 | Reiterated Rating | RBC Capital | Outperform | $124.00 to $136.00 |
2016-04-28 | Reiterated Rating | Barclays PLC | Neutral to Equal Weight | $119.00 to $125.00 |
2016-04-28 | Reiterated Rating | Royal Bank Of Canada | Outperform | $124.00 to $136.00 |
2016-03-03 | Reiterated Rating | Morgan Stanley | Outperform | |
2016-01-29 | Lower Price Target | Credit Suisse | Outperform | $134.00 to $124.00 |
2016-01-29 | Lower Price Target | Credit Suisse Group AG | Outperform | $134.00 to $124.00 |
2016-01-25 | Boost Price Target | Deutsche Bank | Hold | $127.00 to $134.00 |
2016-01-25 | Lower Price Target | Barclays | Equal Weight | $126.00 to $116.00 |
2016-01-25 | Boost Price Target | Deutsche Bank AG | Hold | $127.00 to $134.00 |
2015-12-03 | Reiterated Rating | Susquehanna | Neutral | $95.00 to $100.00 |
2015-12-03 | Reiterated Rating | RBC Capital | Outperform | $115.00 to $120.00 |
2015-12-03 | Reiterated Rating | JPMorgan Chase & Co. | Neutral | $110.00 to $111.00 |
2015-12-03 | Reiterated Rating | Deutsche Bank | Hold | $102.00 to $111.00 |
2015-12-03 | Reiterated Rating | Credit Suisse | Outperform | $114.00 to $115.00 |
2015-12-03 | Reiterated Rating | Citigroup Inc. | Buy | $118.00 to $132.00 |
2015-12-03 | Reiterated Rating | Barclays | Outperform | $110.00 to $114.00 |
2015-10-27 | Boost Price Target | Barclays | Equal Weight | $115.00 to $119.00 |
2015-10-26 | Downgrade | Deutsche Bank | Buy to Hold | $121.00 to $127.00 |
2015-10-26 | Boost Price Target | RBC Capital | Outperform | $126.00 to $138.00 |
2015-10-26 | Boost Price Target | JPMorgan Chase & Co. | Neutral | $136.00 to $138.00 |
2015-10-20 | Boost Price Target | Susquehanna | $121.00 to $132.00 | |
2015-10-20 | Boost Price Target | JPMorgan Chase & Co. | $120.00 to $136.00 | |
2015-10-14 | Boost Price Target | Goldman Sachs | $131.00 to $136.00 | |
2015-10-14 | Reiterated Rating | Deutsche Bank | Buy | $119.00 to $121.00 |
2015-08-12 | Boost Price Target | Susquehanna | Neutral | $113.00 to $121.00 |
2015-07-27 | Boost Price Target | Barclays | Equal Weight | $107.00 to $111.00 |
2015-07-27 | Reiterated Rating | Credit Suisse | Outperform | $127.00 |
2015-07-27 | Upgrade | Deutsche Bank | Hold to Buy | $120.00 to $122.00 |
2015-07-20 | Lower Price Target | JPMorgan Chase & Co. | Neutral | $125.00 to $120.00 |
2015-07-17 | Boost Price Target | Susquehanna | Neutral | $121.00 to $131.00 |
2015-07-16 | Downgrade | Barclays | Overweight to Equal Weight | $124.00 to $107.00 |
2015-07-10 | Reiterated Rating | Citigroup Inc. | Buy | $132.00 to $131.00 |
2015-05-23 | Reiterated Rating | Evercore ISI | Buy | $160.00 |
2015-05-12 | Initiated Coverage | Evercore Partners Inc. | Buy | $160.00 |
2015-05-12 | Initiated Coverage | Evercore ISI | Buy | $160.00 |
2015-04-27 | Boost Price Target | Citigroup Inc. | Buy | $118.00 to $132.00 |
2015-04-27 | Boost Price Target | Barclays | Overweight | $120.00 to $124.00 |
2015-04-27 | Boost Price Target | Deutsche Bank | Hold | $109.00 to $120.00 |
2015-04-27 | Boost Price Target | RBC Capital | Outperform | $126.00 to $128.00 |
2015-04-22 | Boost Price Target | Susquehanna | Neutral | $100.00 to $117.00 |
2015-04-20 | Reiterated Rating | JPMorgan Chase & Co. | Hold | $122.00 to $125.00 |
2015-04-16 | Boost Price Target | Barclays | Overweight | $114.00 to $120.00 |
2015-03-11 | Lower Price Target | Deutsche Bank | Hold | $111.00 to $109.00 |
2015-02-02 | Boost Price Target | Credit Suisse | Outperform | $114.00 to $115.00 |
2015-02-02 | Boost Price Target | Susquehanna | Neutral | $95.00 to $100.00 |
2015-02-02 | Boost Price Target | Barclays | Overweight | $110.00 to $114.00 |
2015-02-02 | Boost Price Target | Citigroup Inc. | Buy | $117.00 to $118.00 |
2015-02-02 | Boost Price Target | RBC Capital | Outperform | $115.00 to $120.00 |
2015-01-28 | Lower Price Target | Deutsche Bank | Hold | $104.00 to $102.00 |
2015-01-26 | Reiterated Rating | JPMorgan Chase & Co. | Neutral | $110.00 to $111.00 |
2015-01-09 | Initiated Coverage | Citigroup Inc. | Buy | |
2014-12-10 | Initiated Coverage | Northcoast Research | Buy | |
2014-10-27 | Boost Price Target | RBC Capital | Outperform | $111.00 to $114.00 |
2014-10-21 | Initiated Coverage | Deutsche Bank | Neutral | $90.00 |
2014-10-21 | Initiated Coverage | Susquehanna | Neutral | $90.00 |
2014-10-17 | Reiterated Rating | Deutsche Bank | Hold | $103.00 to $104.00 |
2014-10-14 | Downgrade | Goldman Sachs | Buy to Neutral | $113.00 to $104.00 |
2014-10-03 | Upgrade | RBC Capital | Sector Perform to Outperform | $111.00 |
2014-08-28 | Reiterated Rating | S&P Equity Research | Strong-Buy | |
2014-08-13 | Initiated Coverage | Credit Suisse | Outperform | $114.00 |
2014-08-11 | Boost Price Target | Morgan Stanley | $90.00 to $98.00 | |
2014-07-28 | Reiterated Rating | Citigroup Inc. | Buy | $101.00 to $117.00 |
2014-07-28 | Boost Price Target | Buckingham Research | $105.00 to $120.00 | |
2014-07-28 | Boost Price Target | JPMorgan Chase & Co. | Neutral | $105.00 to $108.00 |
2014-07-28 | Downgrade | Deutsche Bank | Buy to Hold | $100.00 to $103.00 |
2014-07-22 | Reiterated Rating | JPMorgan Chase & Co. | Hold | $94.00 to $105.00 |
2014-07-14 | Upgrade | Barclays | Equal Weight to Overweight | $93.00 to $113.00 |
2014-07-14 | Lower Price Target | Goldman Sachs | $108.00 to $107.00 | |
2014-06-16 | Reiterated Rating | KeyBanc | Buy | $97.00 to $104.00 |
2014-05-14 | Upgrade | Deutsche Bank | Hold to Buy | $95.00 to $100.00 |
2014-04-28 | Boost Price Target | Buckingham Research | Buy | $92.00 to $105.00 |
2014-04-28 | Boost Price Target | JPMorgan Chase & Co. | Neutral | $91.00 to $94.00 |
2014-04-28 | Boost Price Target | Deutsche Bank | Hold | $94.00 to $95.00 |
2014-04-28 | Boost Price Target | Citigroup Inc. | Buy | $90.00 to $101.00 |
2014-04-28 | Boost Price Target | RBC Capital | Sector Perform | $96.00 to $98.00 |
2014-04-15 | Boost Price Target | RBC Capital | $89.00 to $96.00 | |
2014-04-10 | Reiterated Rating | Barclays | Equal Weight | $88.00 to $93.00 |
2014-02-03 | Downgrade | CRT Capital | Buy to Fair Value | |
2014-01-09 | Boost Price Target | Goldman Sachs | Buy | $90.00 to $95.00 |
2013-12-13 | Reiterated Rating | Deutsche Bank | Positive | |
2013-10-29 | Boost Price Target | KeyBanc | Buy | $97.00 |
2013-10-29 | Boost Price Target | Guggenheim | Buy | $82.00 to $91.00 |
2013-10-28 | Boost Price Target | Morgan Stanley | Overweight | $66.00 to $90.00 |
2013-10-28 | Boost Price Target | Barclays | Equal Weight | $77.00 to $86.00 |
2013-10-28 | Boost Price Target | Jefferies Group | Buy | $78.00 to $92.00 |
2013-10-28 | Downgrade | Deutsche Bank | Buy to Hold | $76.00 to $83.00 |
2013-10-21 | Reiterated Rating | JPMorgan Chase & Co. | Neutral | $80.00 to $86.00 |
2013-10-16 | Boost Price Target | Barclays | Equal Weight | $73.00 to $77.00 |
2013-09-16 | Reiterated Rating | Deutsche Bank | Buy | $76.00 |
2013-09-16 | Boost Price Target | Guggenheim | Buy | $60.00 to $82.00 |
2012-03-14 | Reiterated | Barclays Capital | Equal Weight | $52 to $54 |
2016-06-21 | Downgrade | Bank of America | Buy to Neutral | |
2016-06-21 | Downgrade | Bank of America Corp. | Buy to Neutral | |
2016-05-03 | Boost Price Target | Goldman Sachs | Neutral | $107.00 to $122.00 |
2016-05-03 | Boost Price Target | Goldman Sachs Group Inc. | Neutral | $107.00 to $122.00 |
2016-04-28 | Reiterated Rating | Barclays | Neutral to Equal Weight | $119.00 to $125.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In LEA 321 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
BlackRock Inc. | 8.43M |
PZENA INVESTMENT MANAGEMENT LLC | 6.86M |
Vanguard Group, Inc | 5.65M |
HARRIS ASSOCIATES L P | 2.80M |
BlackRock Institutional Trust Company, N.A. | 2.61M |
STATE STREET CORP | 2.35M |
FMR LLC | 2.10M |
Capital International Investors | 1.74M |
FRANKLIN RESOURCES INC | 1.72M |
BLACKROCK ADVISORS LLC | 1.44M |
DIMENSIONAL FUND ADVISORS LP | 1.29M |
LSV ASSET MANAGEMENT | 1.21M |
Boston Partners | 1.06M |
GREENHAVEN ASSOCIATES INC | 1.04M |
BlackRock Group LTD | 0.99M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
STEPHENS MEL Sr VP Comm, Corp Relation & HR | 0.05% (40000) | LEA / |
SMITH GREG C | 0.01% (11349) | LEA / PAG / |
SCOTT RAYMOND E EVP & President, Seating | 0.01% (9524) | LEA / |
FOSTER JONATHAN F | 0.01% (9092) | BERY / CHMT / DOOR / LEA / |
Orsini Frank C Interim President, EPMS | 0.01% (8735) | LEA / |
Kunkel Jay K. President, Asia Pacific Ops | 0.01% (8368) | LEA / |
Vanneste Jeffrey H. Sr. VP and CFO | 0.01% (5565) | LEA / |
Foss Wendy L VP & Corporate Controller | 0.01% (5436) | LEA / |