UBS Group Cuts Lear (NYSE:LEA) Price Target to $135.00

Lear (NYSE:LEA) had its price objective cut by UBS Group from $145.00 to $135.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

A number of other equities research analysts also recently weighed in on the company. Benchmark started coverage on Lear in a research report on Thursday, February 19th. They issued a “buy” rating and a $170.00 target price for the company. Argus upgraded Lear to a “strong-buy” rating in a research report on Monday, February 9th. The Goldman Sachs Group cut their target price on Lear from $129.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday. Royal Bank Of Canada started coverage on Lear in a research report on Thursday, March 12th. They issued a “sector perform” rating and a $135.00 target price for the company. Finally, Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $136.17.

Lear Price Performance

Shares of NYSE:LEA opened at $119.19 on Tuesday. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05. Lear has a 12 month low of $77.22 and a 12 month high of $142.84. The stock’s 50 day moving average price is $125.02 and its 200 day moving average price is $115.91.

Lear (NYSE:LEA) last released its earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.94 earnings per share. Equities research analysts anticipate that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Thursday, March 5th were issued a $0.77 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $3.08 annualized dividend and a dividend yield of 2.6%. Lear’s dividend payout ratio is currently 37.79%.

Insider Buying and Selling

In other Lear news, CFO Jason M. Cardew sold 10,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $134.51, for a total value of $1,345,100.00. Following the transaction, the chief financial officer owned 22,741 shares of the company’s stock, valued at approximately $3,058,891.91. This represents a 30.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alicia J. Davis sold 6,630 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $132.98, for a total value of $881,657.40. Following the completion of the transaction, the senior vice president directly owned 9,972 shares in the company, valued at $1,326,076.56. This represents a 39.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,264 shares of company stock worth $3,400,687 over the last three months. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Lear

Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new stake in shares of Lear in the fourth quarter valued at $25,000. WealthCollab LLC purchased a new stake in shares of Lear in the second quarter valued at $28,000. Los Angeles Capital Management LLC purchased a new stake in shares of Lear in the fourth quarter valued at $30,000. Allworth Financial LP lifted its holdings in shares of Lear by 62.6% in the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s February quarter beat consensus — EPS of $3.41 vs. $2.67 expected and revenue of $5.99B vs. $5.78B — which supports valuation and investor confidence after the report. MarketBeat Lear Summary
• Positive Sentiment: Trading activity is elevated vs. average volume (655,930 vs. avg ~570k), indicating stronger investor interest and helping push the stock higher; technicals show the share price sits below the 50?day SMA but near the 200?day SMA, a setup that can attract buyers. MarketBeat Lear Summary
• Neutral Sentiment: TD Cowen trimmed its price target slightly from $133 to $132 and maintained a “hold” rating — a modest change that signals limited near?term upside from this analyst but isn’t a major downgrade. TickerReport: TD Cowen
• Negative Sentiment: UBS lowered its expectations for Lear’s stock price, which is a headwind for sentiment and could cap upside if other brokers follow. AmericanBankingNews: UBS Lowers Expectations

Lear Company Profile

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.