Lear (NYSE:LEA) Given New $115.00 Price Target at Barclays

Lear (NYSE:LEA) had its price target cut by Barclays from $120.00 to $115.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. TD Cowen decreased their target price on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group decreased their price objective on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Lear presently has a consensus rating of “Hold” and a consensus target price of $133.73.

Lear Price Performance

Shares of LEA stock opened at $94.36 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The firm has a market cap of $5.13 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.49 and a beta of 1.43. The business’s 50 day moving average price is $95.96 and its 200-day moving average price is $104.90. Lear has a fifty-two week low of $90.03 and a fifty-two week high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the firm earned $2.87 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lear will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 11th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is currently 32.39%.

Hedge Funds Weigh In On Lear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Brooklyn Investment Group lifted its stake in Lear by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 120 shares during the period. Lakewood Asset Management LLC boosted its holdings in shares of Lear by 1.3% during the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock valued at $943,000 after acquiring an additional 126 shares during the last quarter. Quarry LP grew its stake in shares of Lear by 13.8% in the third quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock worth $121,000 after acquiring an additional 134 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 139 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.