UBS Group Lowers Lear (NYSE:LEA) Price Target to $142.00

Lear (NYSE:LEA) had its price objective reduced by UBS Group from $146.00 to $142.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

LEA has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on shares of Lear from $140.00 to $150.00 and gave the company an equal weight rating in a research report on Monday, February 26th. Barclays upped their price target on shares of Lear from $170.00 to $175.00 and gave the stock an overweight rating in a report on Thursday, April 11th. StockNews.com raised shares of Lear from a hold rating to a buy rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Lear from $177.00 to $179.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company increased their price target on shares of Lear from $130.00 to $134.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $160.33.

Lear Price Performance

LEA stock opened at $127.15 on Wednesday. Lear has a one year low of $117.79 and a one year high of $157.90. The company’s fifty day moving average price is $138.07 and its 200-day moving average price is $135.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. The company has a market capitalization of $7.22 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.32 and a beta of 1.55.

Lear (NYSE:LEA) last released its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.04 by $0.14. Lear had a net margin of 2.28% and a return on equity of 14.47%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the firm earned $2.78 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Lear will post 14.47 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were issued a $0.77 dividend. The ex-dividend date was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a yield of 2.42%. Lear’s payout ratio is currently 33.59%.

Insider Transactions at Lear

In other news, CFO Jason M. Cardew sold 2,750 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the sale, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason M. Cardew sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total value of $387,227.50. Following the sale, the chief financial officer now owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Lear

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co purchased a new position in shares of Lear during the 1st quarter worth approximately $32,000. Signaturefd LLC lifted its stake in shares of Lear by 32.3% during the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 91 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Lear during the fourth quarter worth $56,000. Covestor Ltd grew its position in shares of Lear by 131.9% in the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 252 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Lear in the 1st quarter worth about $62,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Company Profile

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.