Lear (NYSE:LEA) PT Raised to $179.00

Lear (NYSE:LEA) had its target price hoisted by JPMorgan Chase & Co. from $177.00 to $179.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

A number of other brokerages have also recently commented on LEA. Morgan Stanley raised their target price on Lear from $140.00 to $150.00 and gave the company an equal weight rating in a report on Monday, February 26th. Benchmark boosted their target price on Lear from $188.00 to $200.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Barclays increased their target price on Lear from $170.00 to $175.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their target price on Lear from $130.00 to $134.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Finally, StockNews.com upgraded Lear from a hold rating to a buy rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $162.44.

Lear Stock Performance

LEA opened at $135.15 on Monday. Lear has a 52-week low of $117.79 and a 52-week high of $157.90. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.70 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 0.33 and a beta of 1.54. The firm’s 50-day moving average price is $138.89 and its 200-day moving average price is $135.87.

Lear (NYSE:LEA) last announced its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). Lear had a net margin of 2.44% and a return on equity of 14.09%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.69 billion. During the same quarter last year, the business earned $2.81 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Lear will post 14.49 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.28%. Lear’s dividend payout ratio (DPR) is 31.82%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lear

Several large investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Lear in the first quarter worth about $32,000. Signaturefd LLC lifted its holdings in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Lear in the 4th quarter worth $56,000. Covestor Ltd increased its stake in shares of Lear by 131.9% in the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock worth $59,000 after acquiring an additional 252 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Lear during the 4th quarter worth about $75,000. 97.04% of the stock is owned by 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.