Shares of Lear Co. (NYSE:LEA - Get Free Report) dropped 8% on Thursday . The stock traded as low as $88.69 and last traded at $89.63. Approximately 227,422 shares changed hands during trading, a decline of 67% from the average daily volume of 695,700 shares. The stock had previously closed at $97.41.
Analysts Set New Price Targets
Several equities research analysts have commented on LEA shares. JPMorgan Chase & Co. dropped their price objective on shares of Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Evercore ISI reduced their price objective on shares of Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. UBS Group cut their price target on Lear from $104.00 to $102.00 and set a "neutral" rating for the company in a report on Friday, February 7th. TD Cowen lowered Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, March 7th. Finally, Morgan Stanley cut their target price on Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $123.36.
Get Our Latest Research Report on Lear
Lear Price Performance
The company has a market capitalization of $4.74 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average is $95.39 and its 200-day moving average is $98.27.
Lear (NYSE:LEA - Get Free Report) last issued its earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, topping 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%. Equities analysts predict that Lear Co. will post 12.89 earnings per share for the current fiscal year.
Lear Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, March 6th. Lear's payout ratio is 34.45%.
Insider Transactions at Lear
In related news, Director Rod Lache purchased 2,178 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $91.80 per share, with a total value of $199,940.40. Following the transaction, the director now directly owns 2,178 shares in the company, valued at $199,940.40. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Lear
Several hedge funds have recently added to or reduced their stakes in the stock. Schroder Investment Management Group bought a new position in shares of Lear during the fourth quarter valued at $90,700,000. Massachusetts Financial Services Co. MA increased its stake in Lear by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock valued at $209,531,000 after purchasing an additional 498,918 shares in the last quarter. Vanguard Group Inc. raised its holdings in Lear by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after buying an additional 447,835 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Lear by 45.9% in the fourth quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock worth $107,313,000 after buying an additional 356,760 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lear during the fourth quarter valued at approximately $31,881,000. 97.04% of the stock is owned by institutional investors.
About Lear
(
Get Free Report)
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.
See Also
Before you consider Lear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lear wasn't on the list.
While Lear currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
