Wells Fargo & Company Raises Lear (NYSE:LEA) Price Target to $173.00

Lear (NYSE:LEAGet Rating) had its target price upped by Wells Fargo & Company from $170.00 to $173.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have an overweight rating on the auto parts company’s stock.

Other research analysts have also recently issued reports about the company. Exane BNP Paribas raised Lear from an underperform rating to a neutral rating and upped their price objective for the stock from $117.00 to $140.00 in a research report on Monday, July 11th. Bank of America raised Lear from an underperform rating to a buy rating and upped their price objective for the stock from $150.00 to $195.00 in a research report on Wednesday, April 6th. Royal Bank of Canada reduced their price objective on Lear from $163.00 to $151.00 in a research report on Wednesday, May 4th. Citigroup lowered their target price on Lear from $177.00 to $154.00 in a research note on Tuesday, April 5th. Finally, TheStreet lowered Lear from a b- rating to a c rating in a research note on Monday, May 16th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $170.33.

Lear Stock Down 3.4 %

NYSE:LEA opened at $143.00 on Wednesday. Lear has a 1 year low of $118.38 and a 1 year high of $195.43. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 76.06, a PEG ratio of 0.47 and a beta of 1.48. The stock has a 50-day moving average price of $135.45 and a two-hundred day moving average price of $142.10.

Lear (NYSE:LEAGet Rating) last posted its earnings results on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.45. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Lear had a return on equity of 6.78% and a net margin of 0.58%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 earnings per share. As a group, equities analysts expect that Lear will post 8.51 earnings per share for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Friday, June 10th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, June 9th. Lear’s dividend payout ratio is currently 163.83%.

Insider Transactions at Lear

In other news, SVP Alicia J. Davis sold 2,659 shares of Lear stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $135.14, for a total value of $359,337.26. Following the completion of the transaction, the senior vice president now directly owns 1,949 shares of the company’s stock, valued at approximately $263,387.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Conrad L. Mallett, Jr. sold 764 shares of Lear stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $130.74, for a total value of $99,885.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alicia J. Davis sold 2,659 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $135.14, for a total value of $359,337.26. Following the completion of the sale, the senior vice president now directly owns 1,949 shares of the company’s stock, valued at $263,387.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,240 shares of company stock valued at $2,797,188. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Lear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC acquired a new position in Lear during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC acquired a new position in Lear during the 4th quarter valued at about $32,000. FNY Investment Advisers LLC acquired a new position in Lear during the 2nd quarter valued at about $33,000. Allworth Financial LP purchased a new position in shares of Lear in the 1st quarter worth approximately $34,000. Finally, Signaturefd LLC boosted its stake in shares of Lear by 81.1% in the 1st quarter. Signaturefd LLC now owns 239 shares of the auto parts company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. 95.46% of the stock is owned by institutional investors.

Lear Company Profile

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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.

Further Reading

Analyst Recommendations for Lear (NYSE:LEA)

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