Lear (NYSE:LEA) PT Lowered to $170.00 at Bank of America

Lear (NYSE:LEA) had its price objective lowered by Bank of America from $180.00 to $170.00 in a report published on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the auto parts company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Wolfe Research initiated coverage on shares of Lear in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. UBS Group dropped their price target on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup dropped their price target on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.64.

Lear Stock Performance

Shares of LEA stock opened at $105.96 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear has a one year low of $101.67 and a one year high of $147.11. The company’s 50-day simple moving average is $109.84 and its 200-day simple moving average is $119.38. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.44 and a beta of 1.44.

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

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s payout ratio is 33.59%.

Institutional Trading of Lear

Large investors have recently added to or reduced their stakes in the business. Grimes & Company Inc. bought a new stake in Lear during the first quarter worth approximately $5,847,000. Alaska Permanent Fund Corp boosted its holdings in Lear by 307.9% during the first quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock worth $1,864,000 after buying an additional 9,714 shares in the last quarter. Swedbank AB bought a new stake in Lear during the first quarter worth approximately $1,984,000. Russell Investments Group Ltd. boosted its holdings in Lear by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 307,383 shares of the auto parts company’s stock worth $44,534,000 after buying an additional 5,584 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Lear by 196.7% during the first quarter. ARGA Investment Management LP now owns 319,156 shares of the auto parts company’s stock worth $46,239,000 after buying an additional 211,574 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

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.