Brokerages Set Lear Co. (NYSE:LEA) Price Target at $123.36

Shares of Lear Co. (NYSE:LEA) have received an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $123.36.

LEA has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on shares of Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on shares of Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Barclays dropped their price objective on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Evercore ISI decreased their target price on Lear from $125.00 to $110.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Finally, TD Cowen cut Lear from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research report on Friday, March 7th.

Insider Activity at Lear

In related news, Director Rod Lache acquired 2,178 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the acquisition, the director now directly owns 2,178 shares of the company’s stock, valued at approximately $199,940.40. The trade was a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEA. Victory Capital Management Inc. lifted its holdings in shares of Lear by 39.9% in the third quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock valued at $2,316,000 after buying an additional 6,055 shares during the period. Natixis Advisors LLC lifted its holdings in Lear by 24.1% in the 3rd quarter. Natixis Advisors LLC now owns 45,998 shares of the auto parts company’s stock valued at $5,021,000 after acquiring an additional 8,937 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Lear during the 3rd quarter valued at about $362,000. Advisors Asset Management Inc. grew its stake in shares of Lear by 44.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,570 shares of the auto parts company’s stock worth $499,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Lear in the 3rd quarter worth approximately $1,946,000. 97.04% of the stock is owned by institutional investors.

Lear Stock Performance

Shares of Lear stock opened at $89.12 on Friday. The firm has a market cap of $4.78 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. Lear has a 1 year low of $86.28 and a 1 year high of $146.19. The firm’s 50-day simple moving average is $95.51 and its 200-day simple moving average is $98.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. Equities analysts forecast that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Thursday, March 6th. Lear’s dividend payout ratio (DPR) is 34.45%.

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.