Lear (NYSE:LEA) Hits New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on Lear from $123.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. TD Cowen lifted their price target on Lear from $117.00 to $133.00 and gave the company a “hold” rating in a research report on Thursday. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price target on shares of Lear in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a research note on Thursday, January 22nd. Finally, Evercore boosted their target price on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $135.10.

Lear Trading Down 1.2%

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 firm has a market capitalization of $7.22 billion, a PE ratio of 17.08, a P/E/G ratio of 1.61 and a beta of 1.30. The company’s fifty day simple moving average is $119.15 and its 200-day simple moving average is $109.02.

Lear (NYSE:LEA) last posted its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.74. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.Lear’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.94 EPS. As a group, sell-side analysts expect that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 10th were issued 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 presently 37.79%.

Insider Transactions at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Thursday, December 18th. The shares were 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 of the company’s stock, valued at $1,801,383.48. The trade was a 24.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LEA. Vest Financial LLC increased its position in Lear by 134.9% during the third quarter. Vest Financial LLC now owns 25,951 shares of the auto parts company’s stock worth $2,611,000 after buying an additional 14,904 shares during the period. Capital Management Corp VA acquired a new stake in shares of Lear in the third quarter valued at approximately $2,295,000. Meritage Portfolio Management purchased a new position in shares of Lear during the third quarter worth approximately $3,268,000. Prudential Financial Inc. increased its holdings in shares of Lear by 2,060.5% in the 2nd quarter. Prudential Financial Inc. now owns 104,720 shares of the auto parts company’s stock valued at $10,009,000 after acquiring an additional 99,873 shares during the period. Finally, RWC Asset Management LLP raised its position in Lear by 3.8% in the 3rd quarter. RWC Asset Management LLP now owns 570,048 shares of the auto parts company’s stock valued at $57,353,000 after purchasing an additional 20,900 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.