Lear Corporation (NYSE:LEA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Lear Corporation (NYSE:LEA) have been assigned a consensus recommendation of “Hold” from the fifteen analysts that are covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $143.3846.

Several equities research analysts recently weighed in on the company. UBS Group cut their price objective on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. TD Cowen upgraded Lear from a “hold” rating to a “buy” rating and increased their target price for the company from $138.00 to $165.00 in a research report on Tuesday, May 26th. Morgan Stanley set a $130.00 price target on Lear in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a research note on Monday, May 4th. Finally, Barclays raised their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th.

Insider Buying and Selling at Lear

In other news, Director Conrad L. Mallett, Jr. sold 190 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total transaction of $26,854.60. Following the completion of the transaction, the director directly owned 1,683 shares in the company, valued at $237,875.22. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nicholas Jon Roelli sold 2,336 shares of Lear stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $141.38, for a total value of $330,263.68. Following the completion of the transaction, the senior vice president directly owned 2,339 shares in the company, valued at approximately $330,687.82. This represents a 49.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 62,026 shares of company stock worth $8,498,248. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Lear

A number of institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd increased its position in shares of Lear by 36.5% during the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock worth $37,000 after buying an additional 81 shares during the period. Versant Capital Management Inc lifted its holdings in Lear by 3.8% in the second quarter. Versant Capital Management Inc now owns 2,260 shares of the auto parts company’s stock valued at $303,000 after buying an additional 82 shares during the period. UMB Bank n.a. boosted its position in Lear by 15.0% during the fourth quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock valued at $77,000 after acquiring an additional 88 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in Lear by 0.5% during the 1st quarter. Waterfront Wealth Inc. now owns 17,404 shares of the auto parts company’s stock worth $2,107,000 after acquiring an additional 89 shares during the period. Finally, Inspire Advisors LLC grew its holdings in Lear by 4.5% during the 4th quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock worth $246,000 after acquiring an additional 92 shares during the period. 97.04% of the stock is owned by institutional investors.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Neutral Sentiment: Zacks published a comparison piece asking whether auto, tire and truck stocks are lagging Lear this year, which is more of a sector/performance commentary than a new fundamental catalyst for the company. Article title

Lear Price Performance

Shares of NYSE:LEA opened at $130.66 on Thursday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 0.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $137.55 and a 200 day simple moving average of $128.53. Lear has a one year low of $91.67 and a one year high of $150.33.

Lear (NYSE:LEA) last posted its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 earnings per share. Research analysts predict that Lear will post 14.64 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, June 3rd. Lear’s payout ratio is 30.80%.

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.