Lear (NYSE:LEA) Price Target Lowered to $114.00 at Wells Fargo & Company

Lear (NYSE:LEA) had its price objective reduced by Wells Fargo & Company from $131.00 to $114.00 in a research report sent to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

Several other equities research analysts also recently commented on LEA. Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a $132.00 price objective on shares of Lear in a report on Tuesday, September 10th. Barclays decreased their price objective on shares of Lear from $155.00 to $150.00 and set an overweight rating for the company in a research report on Monday, July 29th. Bank of America reduced their price target on Lear from $205.00 to $185.00 and set a buy rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price target on Lear from $179.00 to $166.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Finally, StockNews.com raised Lear from a hold rating to a buy rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $149.70.

Lear Price Performance

Shares of LEA opened at $108.60 on Friday. The company has a 50 day moving average of $113.71 and a 200-day moving average of $123.55. 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 $6.17 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.41 and a beta of 1.45. Lear has a twelve month low of $101.67 and a twelve month high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.34 by $0.26. The firm had revenue of $6.01 billion for 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 company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.33 EPS. As a group, equities research analysts forecast that Lear will post 12.79 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were given a $0.77 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.84%. Lear’s payout ratio is presently 33.59%.

Hedge Funds Weigh In On Lear

A number of hedge funds have recently bought and sold shares of the business. State of Michigan Retirement System grew its position in shares of Lear by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock worth $2,665,000 after purchasing an additional 100 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock worth $555,000 after acquiring an additional 100 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 110 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lear by 1.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock valued at $989,000 after acquiring an additional 124 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Lear by 6.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company’s stock worth $316,000 after purchasing an additional 137 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

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.