Deutsche Bank Begins Coverage on Lear (LEA)

Deutsche Bank assumed coverage on shares of Lear (NYSE:LEA) in a report released on Thursday morning, The Fly reports. The brokerage issued a buy rating on the auto parts company’s stock.

A number of other analysts have also weighed in on LEA. Zacks Investment Research raised Lear from a sell rating to a hold rating in a research report on Monday, November 19th. ValuEngine raised Lear from a sell rating to a hold rating in a research report on Monday, November 26th. KeyCorp assumed coverage on Lear in a research report on Monday, December 10th. They set an overweight rating and a $178.00 price objective on the stock. Jefferies Financial Group assumed coverage on Lear in a research report on Tuesday, December 4th. They set a buy rating and a $166.00 price objective on the stock. Finally, Citigroup cut their price objective on Lear from $234.00 to $214.00 and set a buy rating on the stock in a research report on Friday, October 12th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Lear presently has an average rating of Buy and a consensus price target of $196.06.

Lear stock opened at $122.47 on Thursday. Lear has a twelve month low of $121.76 and a twelve month high of $206.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.11 and a current ratio of 1.37. The firm has a market cap of $7.86 billion, a PE ratio of 7.20, a P/E/G ratio of 2.70 and a beta of 1.30.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, October 25th. The auto parts company reported $4.09 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.06). Lear had a return on equity of 28.11% and a net margin of 6.14%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.95 billion. Analysts predict that Lear will post 18.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 7th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, December 6th. Lear’s dividend payout ratio (DPR) is presently 16.47%.

In related news, Director Richard Harold Bott sold 789 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $135.13, for a total value of $106,617.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.43% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after buying an additional 302,664 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Lear by 61.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,182,032 shares of the auto parts company’s stock valued at $171,394,000 after acquiring an additional 450,389 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Lear by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,013,255 shares of the auto parts company’s stock valued at $146,933,000 after acquiring an additional 35,770 shares in the last quarter. Ashler Capital LLC boosted its stake in Lear by 55.7% in the third quarter. Ashler Capital LLC now owns 997,555 shares of the auto parts company’s stock valued at $144,645,000 after acquiring an additional 356,748 shares in the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in Lear by 65.8% in the second quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock valued at $171,785,000 after acquiring an additional 366,915 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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The Fly

Analyst Recommendations for Lear (NYSE:LEA)

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