JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Lear (NYSE:LEA – Free Report) in a report issued on Tuesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a $150.00 price objective on the auto parts company’s stock, down from their previous price objective of $175.00.
A number of other research firms also recently commented on LEA. TD Cowen upgraded Lear from a “hold” rating to a “buy” rating and lifted their price target for the stock from $138.00 to $165.00 in a research note on Tuesday, May 26th. The Goldman Sachs Group restated a “neutral” rating and set a $140.00 price objective on shares of Lear in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft set a $131.00 target price on Lear in a report on Monday, August 3rd. Wells Fargo & Company lifted their target price on Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded Lear from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $146.33.
Check Out Our Latest Stock Report on LEA
Lear Trading Down 0.3%
Lear (NYSE:LEA – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The auto parts company reported $4.28 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.30. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.15 billion. Lear had a net margin of 2.35% and a return on equity of 14.18%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $3.06 EPS. As a group, research analysts expect that Lear will post 14.86 EPS for the current fiscal year.
Lear Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $3.08 annualized dividend and a dividend yield of 2.5%. Lear’s dividend payout ratio (DPR) is 28.70%.
Insider Buying and Selling at Lear
In related news, CEO Raymond E. Scott sold 50,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $135.37, for a total value of $6,768,500.00. Following the sale, the chief executive officer owned 49,789 shares of the company’s stock, valued at $6,739,936.93. This trade represents a 50.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Conrad Mallett, Jr. sold 1,646 shares of Lear stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $121.35, for a total transaction of $199,742.10. Following the completion of the sale, the director owned 37 shares in the company, valued at approximately $4,489.95. This represents a 97.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.02% of the stock is owned by company insiders.
Hedge Funds Weigh In On Lear
Several hedge funds and other institutional investors have recently made changes to their positions in LEA. Altshuler Shaham Ltd boosted its stake in Lear by 36.5% during the 1st quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 81 shares in the last quarter. Allworth Financial LP increased its position in shares of Lear by 32.0% during the 4th quarter. Allworth Financial LP now owns 408 shares of the auto parts company’s stock valued at $47,000 after purchasing an additional 99 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Lear in the 4th quarter worth $59,000. IFP Advisors Inc raised its stake in shares of Lear by 62.7% in the 4th quarter. IFP Advisors Inc now owns 524 shares of the auto parts company’s stock worth $60,000 after buying an additional 202 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Lear by 57.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 576 shares of the auto parts company’s stock valued at $66,000 after buying an additional 210 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.
Lear News Roundup
Here are the key news stories impacting Lear this week:
- Neutral Sentiment: JPMorgan reaffirmed its “Neutral” rating on Lear, indicating limited conviction that the stock will materially outperform or underperform in the near term. JPMorgan Reaffirms Neutral Rating for Lear
- Neutral Sentiment: Lear presented at Morgan Stanley’s Laguna Conference, giving investors additional information on its operating outlook and industry conditions. The transcript provides context for the company’s business plans but does not appear to include a major new catalyst. Lear Corporation Morgan Stanley Conference Transcript
- Negative Sentiment: JPMorgan’s downgrade and comments on conference guidance are the primary drivers of the selling pressure. The revised view suggests concern about Lear’s near-term earnings outlook, automotive production trends, or execution, despite the stock’s relatively modest valuation. Lear Stock Dips After JPMorgan Downgrade
- Negative Sentiment: A separate report also attributed Lear’s decline to the JPMorgan downgrade, reinforcing that analyst sentiment—not a newly reported earnings miss—is weighing on the shares. Lear Shares Fall After JPMorgan Downgrade
About Lear
Lear Corporation is a global automotive technology company that designs and manufactures systems and components used in passenger vehicles. Its business is organized primarily around two areas: seating and E-Systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that help manage power, data and connectivity within vehicles.
The company’s E-Systems offerings include low- and high-voltage wiring systems, connection systems, battery and power-management solutions, electronic control modules, displays and software-enabled technologies.
Featured Stories
- Five stocks we like better than Lear
- Aeluma’s Selloff Could Be Setting Up Its Next Big Move
- Crypto Bill Stalls, Smart Money Calls: Time to Buy the Dip?
- The September Scramble: Find Sanctuary in These 3 Defensive Dividend Stocks
- The Fed’s Rate Hike Could Backfire If Oil Prices Collapse
Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.
