Lear (NYSE:LEA) Sets New 12-Month High – Time to Buy?

Lear Corporation (NYSE:LEA)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $141.28 and last traded at $139.22, with a volume of 698757 shares traded. The stock had previously closed at $140.95.

Analyst Ratings Changes

LEA has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of Lear from $117.00 to $133.00 and gave the company a “hold” rating in a report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target on shares of Lear in a research note on Thursday, January 15th. Citigroup boosted their price target on Lear from $146.00 to $177.00 and gave the company a “buy” rating in a report on Thursday. Barclays set a $140.00 price objective on Lear in a report on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lear in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.10.

Lear Stock Performance

The business has a 50-day moving average of $119.15 and a two-hundred day moving average of $109.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05. The company has a market cap of $7.22 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.61 and a beta of 1.30.

Lear (NYSE:LEA) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Lear had a net margin of 1.88% and a return on equity of 13.40%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business earned $2.94 EPS. On average, sell-side analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 10th were paid a $0.77 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. Lear’s dividend payout ratio (DPR) is 37.79%.

Insiders Place Their Bets

In other news, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $118.17, for a total transaction of $590,850.00. Following the sale, the chief financial officer owned 15,244 shares in the company, valued at approximately $1,801,383.48. The trade was a 24.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Lear

A number of large investors have recently made changes to their positions in LEA. Jones Financial Companies Lllp increased its holdings in shares of Lear by 5,205.1% in the first quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock valued at $604,000 after purchasing an additional 7,131 shares during the period. United Services Automobile Association purchased a new stake in Lear in the first quarter valued at approximately $267,000. Empowered Funds LLC acquired a new position in Lear in the 1st quarter worth approximately $256,000. Janney Montgomery Scott LLC raised its position in Lear by 2.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,158 shares of the auto parts company’s stock worth $585,000 after buying an additional 121 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in Lear during the 2nd quarter valued at approximately $209,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.