Lear Corporation (NYSE:LEA) Stock Has Average Target Price of $146.33

Shares of Lear Corporation (NYSE:LEA) have received a consensus rating of “Hold” from the sixteen analysts that are presently covering the firm, MarketBeat reports. Twelve analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $146.33.

Several analysts recently weighed in on LEA shares. Barclays lifted their price objective on shares of Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $131.00 target price on shares of Lear in a research report on Monday, August 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $140.00 price target on shares of Lear in a research note on Saturday, August 1st. Wall Street Zen cut Lear from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. Finally, Wells Fargo & Company boosted their price objective on Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd.

Key Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s board increased the company’s share-repurchase authorization to $1.5 billion and extended the program through December 31, 2029. Repurchases could reduce the share count, support earnings per share and signal that management believes the shares are attractively valued. Lear Increases Share Repurchase Authorization to $1.5 Billion and Extends Authorization
• Neutral Sentiment: The announcement affirms Lear’s broader cash strategy, but the authorization is not a guarantee that the full amount will be spent immediately. Investors may therefore view the news as supportive but not a substitute for stronger demand, margins or cash-flow growth.

Lear Price Performance

Shares of LEA opened at $118.03 on Tuesday. Lear has a 12 month low of $96.04 and a 12 month high of $150.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.04. The stock has a fifty day moving average price of $128.90 and a 200 day moving average price of $130.29. The company has a market cap of $5.82 billion, a P/E ratio of 11.00, a PEG ratio of 0.75 and a beta of 1.26.

Lear (NYSE:LEA) last posted its earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.98 by $0.30. Lear had a return on equity of 14.18% and a net margin of 2.35%.The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the business posted $3.06 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Lear will post 14.86 earnings per share for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $3.08 annualized dividend and a yield of 2.6%. Lear’s payout ratio is presently 28.70%.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,646 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $121.35, for a total value of $199,742.10. Following the completion of the transaction, the director owned 37 shares of the company’s stock, valued at approximately $4,489.95. This represents a 97.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Lear

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in Lear by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 10,021 shares of the auto parts company’s stock worth $1,343,000 after purchasing an additional 363 shares during the period. Tidal Investments LLC increased its stake in Lear by 48.7% during the 2nd quarter. Tidal Investments LLC now owns 22,783 shares of the auto parts company’s stock valued at $3,054,000 after buying an additional 7,461 shares during the period. WINTON GROUP Ltd acquired a new position in Lear during the 2nd quarter valued at about $214,000. Engineers Gate Manager LP raised its position in shares of Lear by 145.6% during the 2nd quarter. Engineers Gate Manager LP now owns 126,588 shares of the auto parts company’s stock worth $16,970,000 after buying an additional 75,043 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in shares of Lear by 16.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,396 shares of the auto parts company’s stock worth $455,000 after buying an additional 484 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

Lear Company Profile

Lear Corporation is a global automotive technology company that designs and manufactures systems and components used in passenger vehicles. Its business is organized primarily around two areas: seating and E-Systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that help manage power, data and connectivity within vehicles.

The company’s E-Systems offerings include low- and high-voltage wiring systems, connection systems, battery and power-management solutions, electronic control modules, displays and software-enabled technologies.