Lear (NYSE:LEA) Sets New 52-Week High – Here’s Why

Shares of Lear Corporation (NYSE:LEAGet Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $144.10 and last traded at $143.32, with a volume of 17356 shares trading hands. The stock had previously closed at $139.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Benchmark assumed coverage on Lear in a research note on Thursday, February 19th. They issued a “buy” rating and a $170.00 target price on the stock. The Goldman Sachs Group raised their target price on Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Wells Fargo & Company raised their target price on Lear from $126.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Bank of America initiated coverage on Lear in a research note on Wednesday, March 4th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Lear has an average rating of “Hold” and a consensus price target of $143.08.

View Our Latest Research Report on LEA

Lear Trading Up 3.5%

The business’s 50 day moving average is $125.85 and its two-hundred day moving average is $121.54. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $7.25 billion, a P/E ratio of 14.47, a PEG ratio of 0.71 and a beta of 1.21.

Lear (NYSE:LEAGet Free Report) last issued its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the business earned $3.12 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Analysts expect that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a $0.77 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $3.08 annualized dividend and a yield of 2.1%. Lear’s payout ratio is 30.80%.

Institutional Investors Weigh In On Lear

Several hedge funds and other institutional investors have recently bought and sold shares of LEA. Altshuler Shaham Ltd bought a new stake in Lear in the fourth quarter worth about $25,000. WealthCollab LLC bought a new stake in Lear in the second quarter worth about $28,000. Los Angeles Capital Management LLC bought a new stake in Lear in the fourth quarter worth about $30,000. Allworth Financial LP raised its position in Lear by 62.6% in the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 119 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 245 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

About Lear

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Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

Further Reading

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