Lear (NYSE:LEA) Hits New 12-Month Low at $122.15

Shares of Lear Co. (NYSE:LEAGet Rating) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $122.15 and last traded at $122.15, with a volume of 2264 shares trading hands. The stock had previously closed at $131.97.

LEA has been the topic of several analyst reports. BNP Paribas assumed coverage on shares of Lear in a research note on Monday, April 11th. They issued an “underperform” rating and a $112.00 price objective on the stock. The Goldman Sachs Group reduced their price target on Lear from $163.00 to $158.00 in a research report on Wednesday, June 1st. Cowen lowered their price objective on Lear from $203.00 to $180.00 in a research report on Wednesday, May 4th. Royal Bank of Canada reduced their target price on Lear from $163.00 to $151.00 in a report on Wednesday, May 4th. Finally, StockNews.com assumed coverage on shares of Lear in a report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $169.64.

The company has a 50 day moving average price of $132.06 and a 200 day moving average price of $154.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.36. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 0.41 and a beta of 1.47.

Lear (NYSE:LEAGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.56 by $0.24. Lear had a return on equity of 7.51% and a net margin of 1.15%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the previous year, the company posted $3.73 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts forecast that Lear Co. will post 8.34 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Friday, June 10th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $3.08 dividend on an annualized basis and a yield of 2.55%. Lear’s dividend payout ratio (DPR) is currently 84.85%.

In other Lear news, Director Conrad L. Mallett, Jr. sold 764 shares of Lear stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $130.74, for a total transaction of $99,885.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Raymond E. Scott sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $131.38, for a total value of $525,520.00. Following the sale, the chief executive officer now directly owns 60,240 shares of the company’s stock, valued at $7,914,331.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,954 shares of company stock valued at $1,183,114. Company insiders own 0.67% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sandy Cove Advisors LLC purchased a new position in Lear during the first quarter valued at approximately $29,000. EverSource Wealth Advisors LLC bought a new position in shares of Lear during the 4th quarter valued at $32,000. Allworth Financial LP purchased a new position in Lear in the 1st quarter worth $34,000. Signaturefd LLC lifted its stake in Lear by 81.1% in the first quarter. Signaturefd LLC now owns 239 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 107 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Lear during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.

About Lear (NYSE:LEA)

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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