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

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

LEA has been the subject of a number of other research reports. Citigroup decreased their price target 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. Bank of America decreased their price target 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. Morgan Stanley raised shares of Lear from an equal weight rating to an overweight rating and raised their price target for the stock from $150.00 to $160.00 in a report on Friday, May 10th. StockNews.com cut shares of Lear from a buy rating to a hold rating in a report on Tuesday, June 25th. Finally, Evercore ISI reduced 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. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $157.20.

Lear Trading Up 0.4 %

NYSE:LEA opened at $121.84 on Friday. Lear has a 52 week low of $112.26 and a 52 week high of $157.90. The firm has a 50 day moving average of $119.47 and a 200 day moving average of $129.98. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The stock 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.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $3.33 earnings per share. As a group, sell-side analysts anticipate that Lear will post 13.41 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Thursday, June 6th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, June 6th. This represents a $3.08 annualized dividend and a yield of 2.53%. Lear’s dividend payout ratio is presently 33.59%.

Insider Activity at Lear

In related news, Director Greg C. Smith sold 2,392 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Greg C. Smith sold 2,392 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’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 owned by company insiders.

Institutional Trading of Lear

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Lear in the first quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Lear in the first quarter valued at about $32,000. Signaturefd LLC grew its position in shares of Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Lear in the fourth quarter valued at about $56,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Lear in the first quarter valued at about $62,000. Institutional investors and hedge funds 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.