The Goldman Sachs Group Boosts Lear (NYSE:LEA) Price Target to $174.00

Lear (NYSE:LEAGet Rating) had its price objective hoisted by The Goldman Sachs Group from $158.00 to $174.00 in a report released on Wednesday morning, MarketBeat reports. The brokerage currently has a buy rating on the auto parts company’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup cut their price target on Lear from $177.00 to $154.00 in a research note on Tuesday, April 5th. Royal Bank of Canada cut their price objective on Lear from $163.00 to $151.00 in a research report on Wednesday, May 4th. Morgan Stanley cut their price objective on Lear from $144.00 to $139.00 and set an equal weight rating for the company in a research report on Thursday, July 14th. Barclays cut their price objective on Lear from $161.00 to $132.00 and set an equal weight rating for the company in a research report on Thursday, April 7th. Finally, Exane BNP Paribas upgraded Lear from an underperform rating to a neutral rating and increased their price objective for the stock from $117.00 to $140.00 in a research report on Monday, July 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $170.33.

Lear Price Performance

LEA stock opened at $143.00 on Wednesday. The company has a market capitalization of $8.49 billion, a P/E ratio of 76.06, a PEG ratio of 0.47 and a beta of 1.48. Lear has a twelve month low of $118.38 and a twelve month high of $195.43. The business has a 50 day simple moving average of $135.45 and a 200-day simple moving average of $142.10. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEAGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The auto parts company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.34 by $0.45. Lear had a return on equity of 6.78% and a net margin of 0.58%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the business earned $2.45 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Lear will post 8.51 EPS for the current year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Friday, June 10th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, June 9th. Lear’s payout ratio is currently 163.83%.

Insiders Place Their Bets

In other Lear news, SVP Alicia J. Davis sold 2,659 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $135.14, for a total value of $359,337.26. Following the sale, the senior vice president now directly owns 1,949 shares of the company’s stock, valued at approximately $263,387.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Alicia J. Davis sold 2,659 shares of Lear stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $135.14, for a total value of $359,337.26. Following the transaction, the senior vice president now directly owns 1,949 shares of the company’s stock, valued at approximately $263,387.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raymond E. Scott sold 6,143 shares of Lear stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $127.83, for a total value of $785,259.69. Following the completion of the transaction, the chief executive officer now directly owns 47,954 shares in the company, valued at $6,129,959.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,240 shares of company stock valued at $2,797,188. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Lear

Hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd lifted its stake in shares of Lear by 90.0% in the 4th quarter. WINTON GROUP Ltd now owns 3,048 shares of the auto parts company’s stock valued at $558,000 after purchasing an additional 1,444 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Lear by 43.6% during the 1st quarter. Ellevest Inc. now owns 2,470 shares of the auto parts company’s stock valued at $352,000 after buying an additional 750 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Lear by 9.0% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,886 shares of the auto parts company’s stock valued at $9,055,000 after buying an additional 4,052 shares during the period. Cedar Brook Financial Partners LLC purchased a new stake in shares of Lear during the 1st quarter valued at about $207,000. Finally, Neo Ivy Capital Management raised its holdings in shares of Lear by 37.2% during the 4th quarter. Neo Ivy Capital Management now owns 1,779 shares of the auto parts company’s stock valued at $325,000 after buying an additional 482 shares during the period. 95.46% of the stock is owned by institutional investors and hedge funds.

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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