Lear (NYSE:LEA) Price Target Cut to $140.00

Lear (NYSE:LEA) had its price target decreased by Barclays from $150.00 to $140.00 in a research report report published on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the auto parts company’s stock.

LEA has been the subject of several other research reports. Evercore ISI cut their price target on Lear from $155.00 to $145.00 and set an in-line rating for the company in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on Lear in a research note on Thursday, September 5th. They set a peer perform rating for the company. StockNews.com raised Lear from a hold rating to a buy rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group cut their price target on Lear from $144.00 to $135.00 and set a buy rating for the company in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $145.64.

Lear Stock Performance

Shares of LEA opened at $104.55 on Tuesday. The company has a market capitalization of $5.94 billion, a PE ratio of 11.40, a P/E/G ratio of 0.44 and a beta of 1.44. Lear has a 52-week low of $101.67 and a 52-week high of $147.11. The company has a 50-day simple moving average of $110.03 and a 200-day simple moving average of $119.58. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm earned $3.33 EPS. Equities research analysts predict that Lear will post 12.49 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.95%. The ex-dividend date was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is 33.59%.

Institutional Trading of Lear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in shares of Lear by 11,753.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after purchasing an additional 1,008,200 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Lear by 15.2% during the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after purchasing an additional 946,109 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Lear by 36.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Lear by 115.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 561,100 shares of the auto parts company’s stock worth $64,083,000 after purchasing an additional 300,667 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Lear by 9.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after purchasing an additional 238,964 shares during the period. Hedge funds and other 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.