Lear (NYSE:LEA) Given New $131.00 Price Target at Wells Fargo & Company

Lear (NYSE:LEA) had its target price reduced by Wells Fargo & Company from $132.00 to $131.00 in a research report report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

Several other equities analysts have also issued reports on the stock. Evercore ISI lowered their target price on shares of Lear from $155.00 to $145.00 and set an in-line rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $179.00 to $166.00 and set an overweight rating for the company in a report on Monday, July 22nd. Bank of America decreased their price objective 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. StockNews.com lowered shares of Lear from a buy rating to a hold rating in a report on Tuesday, June 25th. Finally, Citigroup decreased their price objective on shares of Lear from $141.00 to $127.00 and set a neutral rating for the company in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lear presently has an average rating of Moderate Buy and a consensus price target of $157.20.

Lear Price Performance

LEA stock opened at $121.84 on Friday. The firm has a 50 day moving average price of $119.47 and a 200-day moving average price of $129.98. Lear has a 52-week low of $112.26 and a 52-week high of $157.90. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.36 and a beta of 1.47. 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 released its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $3.33 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Lear will post 13.41 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Thursday, June 6th. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Greg C. Smith sold 2,392 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lear

A number of hedge funds have recently modified their holdings of LEA. Headlands Technologies LLC bought a new position in Lear in the 1st quarter worth $29,000. Riverview Trust Co bought a new position in Lear in the 1st quarter worth $32,000. Signaturefd LLC boosted its holdings in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after buying an additional 91 shares during the period. GAMMA Investing LLC bought a new position in Lear in the 4th quarter worth $56,000. Finally, Central Pacific Bank Trust Division bought a new position in Lear in the 1st quarter worth $62,000. Institutional investors own 97.04% of the company’s stock.

About Lear

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.