Lear (NYSE:LEA) Given New $141.00 Price Target at Citigroup

Lear (NYSE:LEA - Get Free Report) had its price target dropped by equities researchers at Citigroup from $145.00 to $141.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the auto parts company's stock. Citigroup's price target points to a potential upside of 13.44% from the stock's previous close.

LEA has been the subject of several other reports. Benchmark boosted their price objective on shares of Lear from $188.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, January 2nd. Wells Fargo & Company increased their price target on Lear from $130.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. lifted their price objective on Lear from $177.00 to $179.00 and gave the stock an "overweight" rating in a report on Monday, April 22nd. StockNews.com raised Lear from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Morgan Stanley boosted their price target on Lear from $140.00 to $150.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Lear has an average rating of "Moderate Buy" and an average target price of $161.44.

Lear Stock Down 1.3 %

Shares of NYSE:LEA traded down $1.58 during trading on Wednesday, reaching $124.29. 1,719,880 shares of the stock traded hands, compared to its average volume of 569,620. Lear has a 52-week low of $117.79 and a 52-week high of $157.90. The stock has a market cap of $7.08 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 0.34 and a beta of 1.54. The stock has a 50-day moving average of $138.62 and a two-hundred day moving average of $135.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.35.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.14. Lear had a return on equity of 14.09% and a net margin of 2.44%. The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $6 billion. During the same quarter in the previous year, the business earned $2.78 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Lear will post 14.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Raymond E. Scott sold 10,652 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 13,627 shares of the company's stock, valued at $1,810,483.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Raymond E. Scott sold 10,652 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason M. Cardew sold 2,750 shares of the business'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 completion of the sale, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. 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 bought and sold shares of the business. Norges Bank bought a new position in shares of Lear during the 4th quarter valued at approximately $79,611,000. Point72 Asset Management L.P. lifted its holdings in shares of Lear by 970.4% in the 4th quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company's stock worth $76,373,000 after acquiring an additional 490,324 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Lear by 236.2% during the 3rd quarter. Invesco Ltd. now owns 577,690 shares of the auto parts company's stock worth $77,526,000 after purchasing an additional 405,875 shares during the period. Boston Partners grew its holdings in Lear by 66.5% during the 4th quarter. Boston Partners now owns 981,669 shares of the auto parts company's stock valued at $138,595,000 after purchasing an additional 391,949 shares during the last quarter. Finally, Lyrical Asset Management LP raised its position in Lear by 55.4% in the 4th quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company's stock worth $150,796,000 after purchasing an additional 380,771 shares during the period. Institutional investors own 97.04% of the company's stock.

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.