Barclays cut shares of Lear (NYSE:LEA - Free Report) from an overweight rating to an equal weight rating in a report issued on Wednesday morning, MarketBeat reports. They currently have $120.00 price objective on the auto parts company's stock, down from their prior price objective of $140.00.
LEA has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price objective on Lear from $162.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. UBS Group lowered their price target on shares of Lear from $136.00 to $128.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Bank of America reduced their price objective on shares of Lear from $180.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Citigroup lowered their target price on shares of Lear from $141.00 to $127.00 and set a "neutral" rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com lowered Lear from a "buy" rating to a "hold" rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $141.08.
Read Our Latest Stock Analysis on LEA
Lear Stock Performance
NYSE LEA traded down $1.76 during trading hours on Wednesday, hitting $97.82. 591,360 shares of the company's stock traded hands, compared to its average volume of 658,231. Lear has a 52 week low of $97.26 and a 52 week high of $147.11. The firm has a market capitalization of $5.32 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.50 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The business's fifty day moving average price is $108.45 and its two-hundred day moving average price is $116.95.
Lear (NYSE:LEA - Get Free Report) 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 2.30% and a return on equity of 14.75%. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the firm posted $2.87 EPS. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. Equities research analysts predict that Lear will post 12.27 EPS for the current year.
Lear Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear's payout ratio is 32.39%.
Institutional Trading of Lear
Large investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its holdings in shares of Lear by 2.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company's stock worth $555,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Lear by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company's stock worth $2,665,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Lear by 70.5% during the 2nd 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. Wealth Enhancement Advisory Services LLC raised its position in Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company's stock worth $989,000 after purchasing an additional 124 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Lear by 6.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company's stock worth $316,000 after purchasing an additional 137 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.
Lear Company Profile
(
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.
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