Lear's (LEA) "Neutral" Rating Reiterated at UBS Group

UBS Group reaffirmed their neutral rating on shares of Lear (NYSE:LEA - Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a $116.00 price target on the auto parts company's stock, up from their previous price target of $95.00.

A number of other research firms have also weighed in on LEA. Barclays lowered shares of Lear from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Bank of America lifted their target price on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Wells Fargo & Company upped their target price on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group set a $88.00 price objective on Lear and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $110.45.

Lear Stock Up 0.7%

LEA stock traded up $0.73 during mid-day trading on Monday, reaching $107.30. 388,237 shares of the company traded hands, compared to its average volume of 720,661. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average price is $93.76 and its 200 day moving average price is $92.07. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.59 and a beta of 1.29. Lear has a fifty-two week low of $73.85 and a fifty-two week high of $126.85.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.48. The company had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. Lear's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.18 earnings per share. As a group, equities research analysts predict that Lear will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, June 5th. This represents a $3.08 annualized dividend and a dividend yield of 2.87%. Lear's payout ratio is 36.11%.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $92.86, for a total transaction of $110,224.82. Following the sale, the director directly owned 84 shares of the company's stock, valued at $7,800.24. This represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.91% of the company's stock.

Hedge Funds Weigh In On Lear

Several large investors have recently modified their holdings of LEA. WPG Advisers LLC bought a new position in Lear in the 1st quarter worth approximately $39,000. Quadrant Capital Group LLC lifted its position in shares of Lear by 51.1% during the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after acquiring an additional 166 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of Lear in the fourth quarter worth $58,000. Fifth Third Bancorp grew its position in shares of Lear by 131.8% in the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock valued at $67,000 after purchasing an additional 435 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Lear by 247.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock valued at $75,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 97.04% of the company's stock.

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.