Lear (NYSE:LEA) Given New $125.00 Price Target at TD Cowen

Lear (NYSE:LEA) had its target price trimmed by TD Cowen from $142.00 to $125.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a buy rating on the auto parts company’s stock.

Several other analysts have also issued reports on LEA. Barclays cut their price target on shares of Lear from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price objective on shares of Lear in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Evercore ISI decreased their price target on Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Lear presently has an average rating of “Moderate Buy” and an average target price of $142.75.

Lear Price Performance

NYSE:LEA opened at $98.65 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.50 and a beta of 1.44. The stock’s 50 day moving average price is $109.02 and its two-hundred day moving average price is $117.77. Lear has a 12-month low of $97.51 and a 12-month high of $147.11.

Lear (NYSE:LEA) last issued its earnings results 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. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.87 EPS. On average, analysts anticipate that Lear will post 12.27 earnings per share for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s payout ratio is 33.59%.

Hedge Funds Weigh In On Lear

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Michigan Retirement System grew its position in shares of Lear by 0.5% during 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 buying an additional 100 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock worth $555,000 after buying an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 buying an additional 110 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Lear by 1.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock worth $989,000 after buying an additional 124 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Lear by 6.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company’s stock valued at $316,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

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.