Lear (NYSE:LEA) PT Lowered to $127.00 at Citigroup

Lear (NYSE:LEA) had its price objective dropped by investment analysts at Citigroup from $141.00 to $127.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price objective would indicate a potential upside of 6.78% from the stock’s current price.

Several other equities analysts have also weighed in on LEA. Wells Fargo & Company cut their target price on Lear from $139.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th. UBS Group cut their target price on Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. StockNews.com lowered Lear from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Finally, Morgan Stanley raised Lear from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $160.00 in a research note on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.88.

Lear Trading Up 1.1 %

Shares of LEA traded up $1.29 during trading hours on Friday, hitting $118.94. 275,546 shares of the stock traded hands, compared to its average volume of 646,353. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55. Lear has a 1-year low of $112.26 and a 1-year high of $157.90. The firm has a market capitalization of $6.75 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.27 and a beta of 1.47. The business has a fifty day moving average of $121.71 and a 200-day moving average of $131.57.

Lear (NYSE:LEA) last issued its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Lear will post 14.21 EPS for the current year.

Insider Buying and Selling at Lear

In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total value of $296,273.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Lear

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Lear by 1.9% in the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after acquiring an additional 109,746 shares during the last quarter. Franklin Resources Inc. increased its position in Lear by 7.6% during the fourth quarter. Franklin Resources Inc. now owns 2,179,175 shares of the auto parts company’s stock worth $307,721,000 after buying an additional 153,282 shares during the last quarter. Nordea Investment Management AB increased its position in Lear by 13.8% during the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock worth $174,382,000 after buying an additional 149,958 shares during the last quarter. Lyrical Asset Management LP increased its position in Lear by 55.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company’s stock worth $150,796,000 after buying an additional 380,771 shares during the last quarter. Finally, Boston Partners increased its position in Lear by 4.2% during the first quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock worth $148,216,000 after buying an additional 41,496 shares during the last quarter. 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.