Lear (NYSE:LEA) Reaches New 52-Week High – Time to Buy?
by Teresa Graham · The Cerbat GemShares of Lear Corporation (NYSE:LEA – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $119.29 and last traded at $118.7650, with a volume of 259472 shares traded. The stock had previously closed at $114.60.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on LEA. TD Cowen upped their price target on Lear from $115.00 to $117.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Bank of America cut Lear from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. The Goldman Sachs Group set a $104.00 price target on shares of Lear in a research report on Monday, September 29th. Wall Street Zen downgraded shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Barclays boosted their target price on shares of Lear from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Lear currently has an average rating of “Hold” and an average target price of $119.80.
Check Out Our Latest Stock Analysis on Lear
Lear Stock Up 3.4%
The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $6.15 billion, a PE ratio of 14.49, a P/E/G ratio of 1.10 and a beta of 1.30. The stock’s fifty day simple moving average is $109.76 and its 200-day simple moving average is $104.82.
Lear (NYSE:LEA – Get Free Report) last released its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a net margin of 1.92% and a return on equity of 13.44%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.89 earnings per share. As a group, sell-side analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.
Lear Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, December 10th. Lear’s payout ratio is presently 37.65%.
Insider Buying and Selling at Lear
In related news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $118.17, for a total transaction of $590,850.00. Following the completion of the transaction, the chief financial officer owned 15,244 shares in the company, valued at approximately $1,801,383.48. This represents a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.91% of the company’s stock.
Institutional Investors Weigh In On Lear
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. Dynamic Technology Lab Private Ltd bought a new position in shares of Lear in the first quarter worth $725,000. Voya Investment Management LLC increased its stake in Lear by 34.4% in the 1st quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock worth $4,031,000 after acquiring an additional 11,696 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Lear by 25.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 49,567 shares of the auto parts company’s stock valued at $4,708,000 after acquiring an additional 9,945 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Lear by 449.5% during the second quarter. Signaturefd LLC now owns 1,665 shares of the auto parts company’s stock worth $158,000 after purchasing an additional 1,362 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Lear by 10.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,642 shares of the auto parts company’s stock worth $8,702,000 after purchasing an additional 8,958 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.
About Lear
Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.
The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.