Lear Corporation (NYSE:LEA) Given Average Rating of “Hold” by Brokerages

Lear Corporation (NYSE:LEA) has earned an average recommendation of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $119.80.

A number of brokerages recently weighed in on LEA. Wall Street Zen cut shares of Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Bank of America cut Lear from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $123.00 in a research report on Wednesday, September 10th. Barclays raised their price target on Lear from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Wells Fargo & Company reduced their price objective on Lear from $112.00 to $107.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 9th. Finally, JPMorgan Chase & Co. increased their price objective on Lear from $133.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 3rd.

Insider Transactions at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total transaction of $590,850.00. Following the transaction, the chief financial officer directly owned 15,244 shares of the company’s stock, valued at approximately $1,801,383.48. This trade represents a 24.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Lear

Several hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its holdings in shares of Lear by 1,384.2% during the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after buying an additional 263 shares during the last quarter. WealthCollab LLC acquired a new stake in Lear during the 2nd quarter worth approximately $28,000. Allworth Financial LP grew its stake in shares of Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 119 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Lear in the 3rd quarter valued at approximately $33,000. Finally, Quent Capital LLC acquired a new position in shares of Lear in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Price Performance

LEA stock opened at $116.82 on Friday. The business has a 50 day moving average price of $108.21 and a 200 day moving average price of $103.99. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.53. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.25 and a beta of 1.33. Lear has a fifty-two week low of $73.85 and a fifty-two week high of $119.25.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. Lear had a net margin of 1.92% and a return on equity of 13.44%. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the company earned $2.89 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Wednesday, December 10th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, December 10th. This represents a $3.08 dividend on an annualized basis and a yield of 2.6%. Lear’s dividend payout ratio is currently 37.65%.

About Lear

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.