The Goldman Sachs Group Cuts Lear (NYSE:LEA) Price Target to $135.00

by · The Markets Daily

Lear (NYSE:LEA – Free Report) had its price target cut by The Goldman Sachs Group from $144.00 to $135.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

Several other research analysts also recently weighed in on LEA. Morgan Stanley dropped their price target on Lear from $150.00 to $145.00 and set an overweight rating for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their target price on Lear from $179.00 to $166.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Barclays cut their target price on shares of Lear from $155.00 to $150.00 and set an overweight rating for the company in a report on Monday, July 29th. Evercore ISI cut their target price on shares of Lear from $155.00 to $145.00 and set an in-line rating for the company in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $147.91.

Read Our Latest Stock Report on Lear

Lear Trading Down 1.4 %

Shares of NYSE:LEA opened at $106.68 on Tuesday. Lear has a 12-month low of $101.67 and a 12-month high of $147.11. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The company has a market cap of $6.06 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44. The stock has a 50 day moving average of $112.13 and a 200 day moving average of $122.12.

Lear (NYSE:LEA – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the company posted $3.33 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Lear will post 12.66 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were given a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 2.89%. Lear’s dividend payout ratio is presently 33.59%.

Institutional Trading of Lear

A number of institutional investors have recently bought and sold shares of LEA. Pacer Advisors Inc. lifted its position in Lear by 11,753.3% in the second quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after buying an additional 1,008,200 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after purchasing an additional 946,109 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Lear by 970.4% during the fourth quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company’s stock worth $76,373,000 after purchasing an additional 490,324 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Lear by 9.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after purchasing an additional 238,964 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

About Lear

(Get Free Report)

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.

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