Morgan Stanley Lowers Lear (NYSE:LEA) Price Target to $145.00

by · The Markets Daily

Lear (NYSE:LEA – Free Report) had its target price decreased by Morgan Stanley from $150.00 to $145.00 in a report issued on Wednesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the auto parts company’s stock.

LEA has been the topic of a number of other reports. Barclays decreased their price objective on Lear from $155.00 to $150.00 and set an overweight rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $132.00 target price on shares of Lear in a research note on Tuesday, September 10th. StockNews.com raised shares of Lear from a hold rating to a buy rating in a research note on Friday, July 26th. Citigroup reduced their price objective on shares of Lear from $141.00 to $127.00 and set a neutral rating on the stock in a research note on Friday, July 12th. Finally, Bank of America lowered their target price on shares of Lear from $205.00 to $185.00 and set a buy rating for the company in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Lear presently has an average rating of Moderate Buy and an average price target of $149.20.

View Our Latest Stock Analysis on Lear

Lear Price Performance

Lear stock opened at $112.72 on Wednesday. Lear has a 52 week low of $101.67 and a 52 week high of $147.11. The firm has a market cap of $6.40 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.43 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. The business’s fifty day moving average is $112.73 and its two-hundred day moving average is $122.81.

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

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is 33.59%.

Institutional Trading of Lear

A number of large investors have recently made changes to their positions in LEA. Grimes & Company Inc. acquired a new position in Lear in the first quarter valued at about $5,847,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Lear by 56.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company’s stock valued at $2,842,000 after purchasing an additional 7,242 shares in the last quarter. Alaska Permanent Fund Corp grew its position in shares of Lear by 307.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock valued at $1,864,000 after purchasing an additional 9,714 shares during the period. Swedbank AB bought a new stake in Lear during the 1st quarter worth approximately $1,984,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Lear by 17.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 51,283 shares of the auto parts company’s stock worth $7,242,000 after buying an additional 7,659 shares during the period. Institutional investors own 97.04% of the company’s stock.

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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