Lear (NYSE:LEA) Reaches New 52-Week Low - Here's What Happened

Lear Co. (NYSE:LEA - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $92.14 and last traded at $92.50, with a volume of 235141 shares changing hands. The stock had previously closed at $93.01.

Analysts Set New Price Targets

Several brokerages have commented on LEA. TD Cowen lowered their target price on shares of Lear from $142.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, October 25th. StockNews.com cut shares of Lear from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Wolfe Research started coverage on Lear in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Wells Fargo & Company lowered their price target on Lear from $106.00 to $99.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Bank of America cut their price objective on Lear from $180.00 to $170.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Lear currently has a consensus rating of "Hold" and a consensus target price of $139.67.

Lear Stock Performance

The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 0.60 and a beta of 1.45. The stock's 50 day moving average price is $99.13 and its 200 day moving average price is $108.91. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The firm had revenue of $5.58 billion during the quarter, compared to analysts' expectations of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.87 earnings per share. Analysts expect that Lear Co. will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, December 11th. Lear's dividend payout ratio (DPR) is currently 32.39%.

Institutional Investors Weigh In On Lear

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock worth $32,000 after purchasing an additional 110 shares during the period. Quarry LP boosted its holdings in shares of Lear by 13.8% during the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company's stock worth $121,000 after buying an additional 134 shares during the period. Signaturefd LLC grew its stake in Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock valued at $36,000 after buying an additional 139 shares during the last quarter. Wellington Management Group LLP raised its holdings in Lear by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock valued at $385,000 after acquiring an additional 143 shares during the period. Finally, Systematic Financial Management LP lifted its position in Lear by 1.0% during the second quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company's stock worth $1,866,000 after acquiring an additional 155 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.