Lear Corporation (NYSE:LEA) Receives $107.09 Average PT from Brokerages

Shares of Lear Corporation (NYSE:LEA) have earned an average rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $108.55.

A number of analysts have issued reports on the company. Barclays downgraded Lear from an “equal weight” rating to a “negative” rating in a research note on Tuesday, April 15th. Wells Fargo & Company upped their price objective on shares of Lear from $100.00 to $103.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Morgan Stanley decreased their target price on shares of Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Finally, Wall Street Zen raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $92.86, for a total value of $110,224.82. Following the sale, the director owned 84 shares of the company’s stock, valued at $7,800.24. The trade was a 93.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Lear

A number of institutional investors have recently modified their holdings of the company. Schroder Investment Management Group purchased a new position in Lear during the 4th quarter valued at about $90,700,000. Oldfield Partners LLP purchased a new stake in Lear during the first quarter worth about $53,799,000. Massachusetts Financial Services Co. MA lifted its position in shares of Lear by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company’s stock worth $209,531,000 after purchasing an additional 498,918 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Lear by 483.4% in the first quarter. AQR Capital Management LLC now owns 567,335 shares of the auto parts company’s stock valued at $49,625,000 after purchasing an additional 470,096 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Lear by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company’s stock valued at $614,782,000 after purchasing an additional 447,835 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Stock Performance

LEA opened at $103.58 on Friday. Lear has a twelve month low of $73.85 and a twelve month high of $126.85. The firm has a market capitalization of $5.54 billion, a PE ratio of 12.14, a PEG ratio of 0.58 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $91.36 and its 200 day moving average price is $91.64.

Lear (NYSE:LEA) last issued its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.48. Lear had a return on equity of 14.53% and a net margin of 2.09%. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the previous year, the firm posted $3.18 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Lear will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.97%. Lear’s payout ratio is currently 36.11%.

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, 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.