Lear (NYSE:LEA) had its price target trimmed by Barclays from $200.00 to $199.00 in a research note issued to investors on Tuesday. The brokerage currently has an equal weight rating on the auto parts company’s stock.
Several other brokerages have also recently commented on LEA. ValuEngine upgraded shares of Lear from a buy rating to a strong-buy rating in a research note on Thursday, February 8th. Morgan Stanley upgraded shares of Lear from an underweight rating to an equal weight rating and set a $191.00 price target on the stock in a research note on Thursday, March 22nd. Deutsche Bank upgraded shares of Lear from a hold rating to a buy rating and set a $176.00 price target on the stock in a research note on Wednesday, February 7th. Robert W. Baird reiterated a buy rating and issued a $213.00 price target on shares of Lear in a research note on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of Lear from a hold rating to a buy rating and set a $221.00 price target on the stock in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Lear currently has an average rating of Buy and an average target price of $194.67.
Shares of Lear stock opened at $191.40 on Tuesday. The firm has a market capitalization of $13,204.68, a P/E ratio of 11.26 and a beta of 1.45. Lear has a fifty-two week low of $133.78 and a fifty-two week high of $202.42. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 0.45.
Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, January 26th. The auto parts company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.25 by $0.13. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Lear had a net margin of 6.42% and a return on equity of 30.32%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.80 EPS. sell-side analysts forecast that Lear will post 19.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Wednesday, March 7th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.46%. This is a boost from Lear’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, March 6th. Lear’s dividend payout ratio is currently 16.47%.
Lear announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $954.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In related news, Director Donald L. Runkle sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $190.67, for a total transaction of $190,670.00. Following the transaction, the director now directly owns 2,944 shares in the company, valued at approximately $561,332.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mel Stephens sold 17,006 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $193.00, for a total transaction of $3,282,158.00. Following the transaction, the senior vice president now owns 15,694 shares in the company, valued at $3,028,942. The disclosure for this sale can be found here. Insiders have sold a total of 261,115 shares of company stock worth $49,699,331 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.
A number of large investors have recently modified their holdings of LEA. Cerebellum GP LLC bought a new position in Lear during the 4th quarter valued at about $126,000. Tower Research Capital LLC TRC grew its holdings in Lear by 69.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the auto parts company’s stock valued at $178,000 after purchasing an additional 413 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Lear during the 4th quarter valued at about $183,000. Focused Wealth Management Inc bought a new position in Lear during the 4th quarter valued at about $186,000. Finally, IFM Investors Pty Ltd bought a new position in Lear during the 4th quarter valued at about $204,000. Institutional investors own 95.82% of the company’s stock.
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Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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