Lear (NYSE:LEA) Sets New 52-Week High – Here’s Why

Lear Corporation (NYSE:LEA)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $144.10 and last traded at $143.32, with a volume of 17356 shares changing hands. The stock had previously closed at $139.80.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley set a $130.00 target price on Lear in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their target price on Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Barclays lifted their target price on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lear in a research note on Monday, May 4th. Finally, Wells Fargo & Company lifted their target price on Lear from $126.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Lear has an average rating of “Hold” and an average price target of $143.08.

Lear Trading Up 3.5%

The company has a fifty day moving average price of $125.85 and a 200-day moving average price of $121.54. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21.

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 the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the company earned $3.12 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. Lear’s payout ratio is 30.80%.

Institutional Investors Weigh In On Lear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its holdings in shares of Lear by 5,205.1% during the first quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after buying an additional 7,131 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Lear during the first quarter worth approximately $267,000. Empowered Funds LLC acquired a new position in shares of Lear during the first quarter worth approximately $256,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Lear by 37.1% during the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock worth $92,000 after buying an additional 262 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Lear by 9.5% during the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock worth $408,000 after buying an additional 372 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.