Lear Corporation (NYSE:LEA) Receives $135.10 Average PT from Analysts

Shares of Lear Corporation (NYSE:LEA) have earned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $135.10.

Several research firms recently weighed in on LEA. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price target on shares of Lear in a report on Thursday, January 15th. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Argus raised Lear to a “strong-buy” rating in a research report on Monday, February 9th. Evercore lifted their price target on Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a report on Monday, November 24th. Finally, Morgan Stanley upped their price objective on Lear from $112.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th.

Lear Stock Up 0.6%

LEA stock opened at $137.59 on Monday. The firm has a market capitalization of $7.14 billion, a PE ratio of 16.88, a P/E/G ratio of 1.07 and a beta of 1.30. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.52. Lear has a twelve month low of $73.85 and a twelve month high of $142.84. The stock’s 50 day moving average is $121.51 and its 200-day moving average is $109.96.

Lear (NYSE:LEA) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.Lear’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.94 EPS. Sell-side analysts expect that Lear will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Thursday, March 5th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, March 5th. Lear’s dividend payout ratio (DPR) is 37.79%.

Insider Buying and Selling

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $118.17, for a total value of $590,850.00. Following the transaction, the chief financial officer directly owned 15,244 shares in the company, valued at $1,801,383.48. The trade was a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Lear

Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc increased its position in Lear by 1,384.2% in 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 bought a new position in shares of Lear during the 2nd quarter worth $28,000. Los Angeles Capital Management LLC purchased a new stake in Lear in the 4th quarter worth about $30,000. Allworth Financial LP raised its stake in 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 acquiring an additional 119 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in Lear by 942.3% during the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Company Profile

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.