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

Shares of Lear Corporation (NYSE:LEA) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $119.80.

A number of equities research analysts recently weighed in on the stock. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. Wall Street Zen downgraded Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. The Goldman Sachs Group set a $104.00 target price on Lear in a research report on Monday, September 29th. Evercore ISI upped 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 restated an “equal weight” rating and set a $112.00 price objective (down from $115.00) on shares of Lear in a research note on Monday, December 8th.

Insider Transactions at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the 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 completion of the sale, the chief financial officer owned 15,244 shares in the company, valued at approximately $1,801,383.48. This trade represents a 24.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Lear

Several institutional investors have recently modified their holdings of the business. IFP Advisors Inc increased its position 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 valued at $27,000 after acquiring an additional 263 shares during the last quarter. WealthCollab LLC bought a new position in Lear in the 2nd quarter valued at $28,000. Allworth Financial LP increased its position in shares of Lear by 62.6% during 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 bought a new stake in shares of Lear during the 3rd quarter worth $33,000. Finally, Quent Capital LLC purchased a new position in shares of Lear in the 3rd quarter worth about $38,000. 97.04% of the stock is owned by institutional investors.

Lear Stock Performance

NYSE LEA opened at $118.84 on Friday. The company has a market cap of $6.16 billion, a P/E ratio of 14.53, a PEG ratio of 1.27 and a beta of 1.33. The company has a fifty day simple moving average of $106.47 and a 200 day simple moving average of $103.04. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Lear has a 12-month low of $73.85 and a 12-month high of $119.01.

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, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.63 billion. Lear had a net margin of 1.92% and a return on equity of 13.44%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $2.89 earnings per share. Sell-side analysts predict that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

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