Lear (NYSE:LEA – Free Report) had its price target lowered by Royal Bank Of Canada from $139.00 to $135.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a sector perform rating on the auto parts company’s stock.
LEA has been the subject of a number of other reports. The Goldman Sachs Group decreased their price objective on shares of Lear from $140.00 to $124.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. JPMorgan Chase & Co. downgraded Lear from an “overweight” rating to a “neutral” rating and cut their target price for the company from $175.00 to $150.00 in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft set a $131.00 target price on Lear in a research note on Monday, August 3rd. Wells Fargo & Company lifted their target price on Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Finally, BNP Paribas Exane cut Lear from an “outperform” rating to a “neutral” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lear presently has a consensus rating of “Hold” and a consensus price target of $143.25.
View Our Latest Report on Lear
Lear Stock Up 1.6%
Shares of Lear stock opened at $118.58 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 1.18. The stock has a market capitalization of $5.71 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.66 and a beta of 1.28. Lear has a 52-week low of $99.00 and a 52-week high of $150.33. The company has a 50-day simple moving average of $121.83 and a two-hundred day simple moving average of $128.28.
Lear (NYSE:LEA – Get Free Report) last issued its earnings results on Friday, October 30th. The auto parts company reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.39. Lear had a net margin of 2.46% and a return on equity of 14.92%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. On average, analysts anticipate that Lear will post 15.01 EPS for the current fiscal year.
Lear Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 2nd. Lear’s payout ratio is 26.90%.
Lear announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 24th that authorizes the company to repurchase $1.50 billion in shares. This buyback authorization authorizes the auto parts company to reacquire up to 25.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its stock is undervalued.
Insider Buying and Selling at Lear
In other news, CFO Jason Cardew sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $117.75, for a total value of $588,750.00. Following the transaction, the chief financial officer directly owned 8,241 shares in the company, valued at $970,377.75. This trade represents a 37.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.02% of the stock is owned by insiders.
Institutional Trading of Lear
A number of hedge funds have recently bought and sold shares of LEA. Dimensional Fund Advisors LP raised its stake in shares of Lear by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,943,480 shares of the auto parts company’s stock worth $356,380,000 after buying an additional 107,678 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Lear during the 2nd quarter valued at approximately $65,397,000. Sei Investments Co. grew its stake in shares of Lear by 28.8% during the 1st quarter. Sei Investments Co. now owns 176,084 shares of the auto parts company’s stock valued at $21,320,000 after acquiring an additional 39,422 shares during the period. Quantinno Capital Management LP increased its holdings in Lear by 14.4% in the 1st quarter. Quantinno Capital Management LP now owns 151,156 shares of the auto parts company’s stock worth $18,302,000 after acquiring an additional 18,990 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Lear in the 2nd quarter worth approximately $17,423,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.
More Lear News
Here are the key news stories impacting Lear this week:
- Positive Sentiment: Lear shares moved above their 50-day moving average after an analyst downgrade, a potentially supportive technical signal. Article: Lear Stock Price Breaks Above Fifty Day Moving Average After Analyst Downgrade
- Neutral Sentiment: CFO Jason Cardew sold 5,000 shares for about $589,000 and retained 8,241 shares. The filing does not give a reason for the sale, so it is not necessarily a signal about the company’s outlook. SEC insider transaction filing
- Negative Sentiment: Royal Bank of Canada lowered its expectations for Lear, citing a near-term China overhang. Concern about demand in that market could weigh on the company’s outlook. Article: Lear Faces Near Term China Overhang, RBC Says
About Lear
Lear Corporation is a global automotive technology company that designs and manufactures products used in passenger vehicles and commercial vehicles. Its operations are organized primarily around two areas: seating and e-systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that support vehicle power management and connectivity.
The company serves automotive manufacturers and their vehicle programs in major markets across North America, Europe, Asia and other regions.
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