Lear Corporation (NYSE:LEA) Given Consensus Rating of “Hold” by Analysts

Shares of Lear Corporation (NYSE:LEA) have received a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $145.2308.

A number of analysts recently issued reports on LEA shares. Royal Bank Of Canada raised their price objective on shares of Lear from $138.00 to $143.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. Barclays increased their target price on shares of Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $131.00 price target on shares of Lear in a research note on Monday, August 3rd. Wells Fargo & Company upped their price objective on Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, TD Cowen raised Lear from a “hold” rating to a “buy” rating and increased their price objective for the company from $138.00 to $165.00 in a report on Tuesday, May 26th.

Insider Buying and Selling

In related news, Director Conrad L. Mallett, Jr. sold 1,646 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $121.35, for a total transaction of $199,742.10. Following the completion of the transaction, the director owned 37 shares of the company’s stock, valued at approximately $4,489.95. The trade was a 97.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raymond Scott sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total transaction of $6,768,500.00. Following the completion of the sale, the chief executive officer owned 49,789 shares in the company, valued at $6,739,936.93. This represents a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,836 shares of company stock valued at $6,995,097 over the last 90 days. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Lear in the 2nd quarter worth approximately $4,029,000. California State Teachers Retirement System grew its holdings in shares of Lear by 12,951.3% during the 2nd quarter. California State Teachers Retirement System now owns 7,843,046 shares of the auto parts company’s stock valued at $1,051,439,000 after purchasing an additional 7,782,952 shares during the last quarter. HB Wealth Management LLC lifted its stake in Lear by 47.1% in the second quarter. HB Wealth Management LLC now owns 2,560 shares of the auto parts company’s stock worth $343,000 after purchasing an additional 820 shares during the last quarter. Syon Capital LLC boosted its position in Lear by 13.0% during the second quarter. Syon Capital LLC now owns 2,467 shares of the auto parts company’s stock valued at $331,000 after buying an additional 284 shares during the period. Finally, Nykredit A S purchased a new stake in Lear during the second quarter valued at about $208,000. 97.04% of the stock is currently owned by institutional investors.

Lear News Summary

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Brokerages have assigned Lear an average price target of $145.23, implying meaningful upside from the stock’s recent trading level near $131. This supports the view that analysts see value in Lear’s automotive seating and E-Systems businesses. Lear Corporation Receives $145.23 Average Price Target from Brokerages
• Neutral Sentiment: Lear will participate in a fireside chat at Morgan Stanley’s 14th Annual Laguna Conference on September 16. The event may give investors additional insight into demand trends, margins, restructuring, and electrification strategy, but the announcement itself provided no new financial information. Lear to Participate in Morgan Stanley 14th Annual Laguna Conference

Lear Stock Performance

LEA stock opened at $131.05 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm has a market cap of $6.46 billion, a PE ratio of 12.21, a P/E/G ratio of 0.79 and a beta of 1.26. The business has a 50 day moving average of $131.51 and a 200-day moving average of $130.80. Lear has a 12-month low of $96.04 and a 12-month high of $150.33.

Lear (NYSE:LEA) last announced its earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.30. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.15 billion. Lear had a return on equity of 14.18% and a net margin of 2.35%.The business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $3.06 EPS. As a group, sell-side analysts expect that Lear will post 14.86 earnings per share for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 2nd. Lear’s dividend payout ratio is presently 28.70%.

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.