Lear (NYSE:LEA) Upgraded at StockNews.com

StockNews.com upgraded shares of Lear (NYSE:LEAFree Report) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company boosted their price objective on Lear from $134.00 to $139.00 and gave the company an equal weight rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Lear from $177.00 to $179.00 and gave the company an overweight rating in a report on Monday, April 22nd. Barclays lowered their target price on shares of Lear from $175.00 to $165.00 and set an overweight rating on the stock in a report on Thursday, May 2nd. Citigroup cut their target price on shares of Lear from $145.00 to $141.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley upgraded shares of Lear from an equal weight rating to an overweight rating and boosted their price target for the stock from $150.00 to $160.00 in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $161.44.

Read Our Latest Stock Analysis on LEA

Lear Stock Down 0.4 %

LEA stock opened at $130.68 on Thursday. The business’s 50-day moving average price is $136.50 and its 200-day moving average price is $135.54. The stock has a market cap of $7.42 billion, a P/E ratio of 14.25, a PEG ratio of 0.33 and a beta of 1.55. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.55. Lear has a twelve month low of $121.38 and a twelve month high of $157.90.

Lear (NYSE:LEAGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.14. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. Lear had a net margin of 2.28% and a return on equity of 14.47%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.78 earnings per share. On average, equities research analysts forecast that Lear will post 14.32 EPS for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.08 annualized dividend and a yield of 2.36%. Lear’s payout ratio is currently 33.59%.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 2,750 shares of Lear stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the transaction, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

A number of large investors have recently made changes to their positions in LEA. Nordea Investment Management AB lifted its stake in Lear by 13.8% in the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock worth $174,382,000 after purchasing an additional 149,958 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Lear by 83.9% during the 4th quarter. ARGA Investment Management LP now owns 107,582 shares of the auto parts company’s stock valued at $15,192,000 after acquiring an additional 49,070 shares during the period. International Assets Investment Management LLC bought a new position in Lear in the 4th quarter valued at $1,356,000. Louisiana State Employees Retirement System purchased a new stake in Lear in the fourth quarter worth $2,316,000. Finally, Boston Partners lifted its position in shares of Lear by 66.5% during the fourth quarter. Boston Partners now owns 981,669 shares of the auto parts company’s stock worth $138,595,000 after purchasing an additional 391,949 shares during the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

About Lear

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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.

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Analyst Recommendations for Lear (NYSE:LEA)

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