Lear Corporation (NYSE:LEA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lear Corporation (NYSE:LEA) have received an average rating of “Hold” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $143.0769.

Several analysts have commented on LEA shares. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a research note on Monday, May 4th. Royal Bank Of Canada upped their price objective on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. upped their price objective on Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. UBS Group reduced their price objective on Lear from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Finally, Morgan Stanley set a $130.00 price objective on Lear in a research note on Monday, May 4th.

Lear Stock Up 0.2%

Lear stock opened at $145.24 on Friday. Lear has a fifty-two week low of $89.29 and a fifty-two week high of $150.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. The company has a market capitalization of $7.28 billion, a P/E ratio of 14.52, a PEG ratio of 0.74 and a beta of 1.23. The stock has a 50-day simple moving average of $133.14 and a 200-day simple moving average of $125.16.

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, beating the consensus estimate of $3.51 by $0.36. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.12 EPS. Equities research analysts expect that Lear will post 14.61 earnings per share for the current year.

Lear Dividend Announcement

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

Key Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear recently beat quarterly earnings expectations, reporting $3.87 per share versus the $3.51 consensus, while revenue rose 4.7% year over year. That stronger-than-expected operating performance likely continues to support investor confidence in the auto supplier’s outlook. Lear earnings and stock data
• Positive Sentiment: The company also pays a quarterly dividend of $0.77 per share, or $3.08 annualized, which can help attract income-focused investors and support the stock. Lear dividend information
• Neutral Sentiment: Director Conrad L. Mallett, Jr. sold 190 shares for about $26,855. The sale is relatively small and looks more routine than like a meaningful shift in insider sentiment. SEC insider filing

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 190 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $237,875.22. This represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the transaction, the chief financial officer directly owned 13,241 shares of the company’s stock, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 12,026 shares of company stock valued at $1,729,748. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Lear

A number of large investors have recently modified their holdings of LEA. Altshuler Shaham Ltd purchased a new position in shares of Lear during the 4th quarter worth approximately $25,000. WealthCollab LLC purchased a new position in shares of Lear during the 2nd quarter worth approximately $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Lear during the 4th quarter worth approximately $30,000. Allworth Financial LP raised its stake 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 worth $31,000 after buying an additional 119 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Lear by 942.3% during the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after buying an additional 245 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.