Lear (NYSE:LEA) Price Target Lowered to $165.00 at Barclays

Lear (NYSE:LEA) had its price target cut by Barclays from $175.00 to $165.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Several other research firms have also commented on LEA. StockNews.com upgraded shares of Lear from a hold rating to a buy rating in a report on Tuesday. Morgan Stanley upped their price target on shares of Lear from $140.00 to $150.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. JPMorgan Chase & Co. raised their price objective on Lear from $177.00 to $179.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Citigroup decreased their target price on Lear from $145.00 to $141.00 and set a neutral rating for the company in a research report on Wednesday. Finally, UBS Group dropped their target price on Lear from $146.00 to $142.00 and set a neutral rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $160.33.

Lear Price Performance

Shares of NYSE LEA traded up $0.55 during midday trading on Thursday, hitting $127.15. The company had a trading volume of 568,998 shares, compared to its average volume of 688,659. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $138.07 and a two-hundred day simple moving average of $135.57. Lear has a twelve month low of $117.79 and a twelve month high of $157.90. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.31 and a beta of 1.55.

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

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, March 7th. This represents a $3.08 annualized dividend and a yield of 2.42%. Lear’s dividend payout ratio is presently 33.59%.

Insider Activity

In related news, CFO Jason M. Cardew sold 2,750 shares of Lear stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now owns 17,506 shares in the company, valued at $2,465,019.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares in the company, valued at approximately $1,810,483.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jason M. Cardew sold 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in shares of Lear in the 1st quarter worth about $32,000. Signaturefd LLC boosted its stake in Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC acquired a new position in Lear in the fourth quarter valued at approximately $56,000. Central Pacific Bank Trust Division bought a new position in shares of Lear during the first quarter valued at approximately $62,000. Finally, Covestor Ltd raised its position in shares of Lear by 131.9% during the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock worth $59,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

About Lear

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.