Morgan Stanley Cuts Lear (NYSE:LEA) Price Target to $145.00

Lear (NYSE:LEA) had its price target trimmed by Morgan Stanley from $150.00 to $145.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

LEA has been the topic of a number of other reports. StockNews.com upgraded Lear from a hold rating to a buy rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on Lear from $179.00 to $166.00 and set an overweight rating for the company in a report on Monday, July 22nd. Barclays decreased their target price on shares of Lear from $155.00 to $150.00 and set an overweight rating on the stock in a report on Monday, July 29th. Citigroup lowered their price target on Lear from $141.00 to $127.00 and set a neutral rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research started coverage on shares of Lear in a research report on Thursday, September 5th. They issued a peer perform rating for the company. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $149.20.

Lear Trading Up 1.9 %

LEA opened at $112.72 on Wednesday. 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 company has a fifty day moving average price of $112.73 and a two-hundred day moving average price of $122.94. The company has a market cap of $6.40 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. Lear has a 1-year low of $101.67 and a 1-year high of $147.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Lear will post 12.66 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Lear during the first quarter valued at approximately $29,000. Riverview Trust Co purchased a new stake in shares of Lear in the 1st quarter worth $32,000. Altshuler Shaham Ltd purchased a new position in Lear during the second quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Lear in the first quarter worth about $62,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.