Lear (NYSE:LEA) Shares Gap Down to $112.72

Lear Co. (NYSE:LEA) shares gapped down before the market opened on Monday . The stock had previously closed at $112.72, but opened at $108.31. Lear shares last traded at $110.21, with a volume of 34,845 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on LEA shares. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Bank of America dropped their price target on Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Barclays cut their price target on Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. UBS Group lowered their price objective on Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup dropped their price objective on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.20.

Lear Stock Down 2.8 %

The company’s 50 day simple moving average is $112.73 and its 200-day simple moving average is $122.67. The firm has a market capitalization of $6.22 billion, a PE ratio of 12.29, a PEG 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.

Lear (NYSE:LEA) 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. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.33 EPS. On average, analysts forecast that Lear Co. will post 12.66 EPS for the current fiscal year.

Lear Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Wednesday, September 4th. Lear’s payout ratio is 33.59%.

Institutional Trading of Lear

Hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in Lear in the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in Lear during the 1st quarter valued at $29,000. Riverview Trust Co bought a new position in Lear in the 1st quarter worth $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Lear during the 1st quarter valued at about $62,000. Institutional investors own 97.04% of the company’s stock.

Lear Company Profile

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.