Lear (NYSE:LEA) Sets New 52-Week Low – Here’s What Happened

Lear Co. (NYSE:LEA)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $87.20 and last traded at $87.57, with a volume of 16376 shares trading hands. The stock had previously closed at $94.09.

Wall Street Analyst Weigh In

LEA has been the subject of several analyst reports. Bank of America lowered their price target on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Barclays decreased their price objective on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their target price on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price target on Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lear currently has an average rating of “Hold” and an average target price of $132.18.

Lear Price Performance

The company has a market cap of $5.05 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.61 and a beta of 1.42. The company’s 50-day moving average price is $95.75 and its 200-day moving average price is $103.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, December 11th. Lear’s dividend payout ratio is 32.39%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in Lear by 187.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 187 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 137 shares in the last quarter. Brooklyn Investment Group acquired a new position in Lear during the third quarter worth $34,000. Blue Trust Inc. increased its stake in Lear by 240.4% in the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after buying an additional 214 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after buying an additional 139 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

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.