Lear (NYSE:LEA) Price Target Cut to $102.00 by Analysts at UBS Group

Lear (NYSE:LEA) had its price target reduced by UBS Group from $104.00 to $102.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

A number of other equities research analysts have also recently weighed in on LEA. Bank of America dropped their price objective on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen cut their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Barclays reduced their price target on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, 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 research report on Friday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $130.18.

Lear Stock Up 1.4 %

Shares of NYSE:LEA opened at $96.01 on Friday. The business has a 50-day moving average price of $95.59 and a 200 day moving average price of $103.01. Lear has a 12-month low of $86.28 and a 12-month high of $147.11. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.62 and a beta of 1.42.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. Sell-side analysts expect that Lear will post 13.29 EPS for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 11th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, December 11th. Lear’s dividend payout ratio is currently 34.45%.

Hedge Funds Weigh In On Lear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in shares of Lear during the second quarter valued at approximately $211,000. SG Americas Securities LLC lifted its stake in shares of Lear by 49.2% during the 3rd quarter. SG Americas Securities LLC now owns 9,024 shares of the auto parts company’s stock worth $985,000 after purchasing an additional 2,975 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Lear by 46.7% during the third quarter. Handelsbanken Fonder AB now owns 15,700 shares of the auto parts company’s stock worth $1,714,000 after purchasing an additional 5,000 shares during the last quarter. Inspire Investing LLC increased its stake in Lear by 22.3% in the third quarter. Inspire Investing LLC now owns 3,778 shares of the auto parts company’s stock valued at $412,000 after purchasing an additional 688 shares during the last quarter. Finally, Gilman Hill Asset Management LLC purchased a new position in Lear during the third quarter worth about $2,449,000. Institutional investors and hedge funds 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.