Lear Corporation (NYSE:LEA) Given Consensus Rating of "Hold" by Analysts

Shares of Lear Corporation (NYSE:LEA - Get Free Report) have been given a consensus rating of "Hold" by the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $113.00.

A number of research firms have commented on LEA. UBS Group reduced their price objective on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Morgan Stanley reduced their price objective on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wall Street Zen lowered shares of Lear from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company upped their price objective on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st.

Insider Buying and Selling

In related news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $92.86, for a total value of $110,224.82. Following the transaction, the director owned 84 shares in the company, valued at approximately $7,800.24. This represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Raymond E. Scott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief executive officer owned 38,729 shares in the company, valued at $3,747,805.33. This represents a 11.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,187 shares of company stock worth $1,086,425. Insiders own 0.91% of the company's stock.

Hedge Funds Weigh In On Lear

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Lear by 1,384.2% during the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 263 shares during the last quarter. WealthCollab LLC acquired a new position in Lear during the second quarter valued at approximately $28,000. WPG Advisers LLC acquired a new position in Lear during the first quarter valued at approximately $39,000. Bessemer Group Inc. grew its holdings in Lear by 100.0% during the second quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company's stock valued at $43,000 after purchasing an additional 227 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new position in Lear during the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Price Performance

Shares of NYSE LEA opened at $102.60 on Monday. Lear has a twelve month low of $73.85 and a twelve month high of $119.10. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 0.62 and a beta of 1.30. The firm has a 50-day moving average of $98.71 and a two-hundred day moving average of $93.14.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same period in the prior year, the firm earned $3.60 earnings per share. The business's quarterly revenue was up .3% on a year-over-year basis. As a group, analysts expect that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd will be issued a $0.77 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. Lear's dividend payout ratio is currently 35.94%.

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.

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