Lear (NYSE:LEA) Reaches New 1-Year Low - Here's What Happened

Shares of Lear Co. (NYSE:LEA - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $85.29 and last traded at $87.31, with a volume of 32270 shares. The stock had previously closed at $87.96.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LEA shares. Barclays cut their price target on shares of Lear from $120.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on shares of Lear from $99.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Evercore ISI reduced their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Cowen cut Lear from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, StockNews.com raised Lear from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $123.36.

Lear Stock Down 2.8 %

The firm's 50-day simple moving average is $94.73 and its 200 day simple moving average is $97.87. The company has a market capitalization of $4.29 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.49 and a beta of 1.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. As a group, equities research analysts forecast that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, March 6th. Lear's dividend payout ratio (DPR) is presently 34.45%.

Insider Transactions at Lear

In other news, Director Rod Lache bought 2,178 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the transaction, the director now owns 2,178 shares in the company, valued at $199,940.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Lear

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock valued at $27,000 after acquiring an additional 187 shares during the period. Addison Advisors LLC lifted its holdings in shares of Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. boosted its position in Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock worth $39,000 after purchasing an additional 287 shares during the period. Brooklyn Investment Group increased its holdings in Lear by 39.1% in the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock valued at $40,000 after purchasing an additional 120 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Lear in the third quarter valued at about $50,000. 97.04% of the stock is 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.