Lear (NYSE:LEA) Given New $150.00 Price Target at Barclays

Lear (NYSE:LEA) had its target price cut by Barclays from $155.00 to $150.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Lear from $179.00 to $166.00 and set an overweight rating for the company in a report on Monday, July 22nd. StockNews.com upgraded shares of Lear from a hold rating to a buy rating in a report on Friday, July 26th. Morgan Stanley upgraded shares of Lear from an equal weight rating to an overweight rating and upped their price target for the company from $150.00 to $160.00 in a report on Friday, May 10th. Citigroup lowered their price target on shares of Lear from $141.00 to $127.00 and set a neutral rating for the company in a report on Friday, July 12th. Finally, Evercore ISI lowered their price target on shares of Lear from $155.00 to $145.00 and set an in-line rating for the company in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $157.20.

Lear Trading Down 1.9 %

Shares of LEA opened at $119.73 on Monday. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.37 and a beta of 1.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear has a fifty-two week low of $112.26 and a fifty-two week high of $156.54. The firm has a 50 day moving average price of $119.15 and a 200-day moving average price of $129.78.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $3.33 EPS. As a group, equities research analysts forecast that Lear will post 13.13 earnings per share for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, June 6th. Lear’s dividend payout ratio is presently 33.59%.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Greg C. Smith sold 2,392 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Lear

Several institutional investors have recently bought and sold shares of the company. RWC Asset Management LLP grew its position in Lear by 9.0% during the 2nd quarter. RWC Asset Management LLP now owns 3,763 shares of the auto parts company’s stock valued at $430,000 after purchasing an additional 312 shares during the last quarter. AM Squared Ltd lifted its stake in Lear by 51,666.7% during the 2nd quarter. AM Squared Ltd now owns 3,106 shares of the auto parts company’s stock valued at $355,000 after acquiring an additional 3,100 shares during the period. Auxano Advisors LLC lifted its stake in Lear by 19.6% during the 2nd quarter. Auxano Advisors LLC now owns 5,650 shares of the auto parts company’s stock valued at $645,000 after acquiring an additional 924 shares during the period. nVerses Capital LLC lifted its stake in Lear by 2,800.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the auto parts company’s stock valued at $331,000 after acquiring an additional 2,800 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in Lear during the 2nd quarter valued at about $5,260,000. 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.