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

Lear (NYSE:LEAGet Rating) had its target price increased by Wells Fargo & Company from $170.00 to $173.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the auto parts company’s stock.

Several other equities analysts have also recently issued reports on the company. BNP Paribas upgraded Lear from an underperform rating to a neutral rating and raised their price objective for the stock from $117.00 to $140.00 in a research note on Monday, July 11th. Barclays dropped their target price on Lear from $161.00 to $132.00 and set an equal weight rating on the stock in a research report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft raised their price target on Lear from $153.00 to $157.00 in a report on Wednesday. Exane BNP Paribas raised Lear from an underperform rating to a neutral rating and raised their price target for the company from $117.00 to $140.00 in a report on Monday, July 11th. Finally, Bank of America raised Lear from an underperform rating to a buy rating and raised their price target for the company from $150.00 to $195.00 in a report on Wednesday, April 6th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $170.33.

Lear Trading Down 3.4 %

NYSE LEA opened at $143.00 on Wednesday. Lear has a 12 month low of $118.38 and a 12 month high of $195.43. The company has a 50-day moving average of $135.45 and a 200-day moving average of $142.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.04. The company has a market cap of $8.49 billion, a P/E ratio of 76.06, a P/E/G ratio of 0.47 and a beta of 1.48.

Lear (NYSE:LEAGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share for the quarter, topping 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%. Lear’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 EPS. As a group, equities analysts predict that Lear will post 8.51 earnings per share for the current year.

Lear Dividend Announcement

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

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 764 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $130.74, for a total transaction of $99,885.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Alicia J. Davis sold 2,659 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $135.14, for a total transaction 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 approximately $263,387.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 764 shares of the firm’s 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 21,240 shares of company stock worth $2,797,188. 0.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its stake in shares of Lear by 90.0% in the 4th quarter. WINTON GROUP Ltd now owns 3,048 shares of the auto parts company’s stock valued at $558,000 after acquiring an additional 1,444 shares in the last quarter. Ellevest Inc. increased its position in Lear by 43.6% in the 1st quarter. Ellevest Inc. now owns 2,470 shares of the auto parts company’s stock worth $352,000 after buying an additional 750 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Lear by 9.0% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,886 shares of the auto parts company’s stock worth $9,055,000 after buying an additional 4,052 shares during the period. Cedar Brook Financial Partners LLC bought a new position in Lear in the 1st quarter worth approximately $207,000. Finally, Neo Ivy Capital Management increased its position in Lear by 37.2% in the 4th quarter. Neo Ivy Capital Management now owns 1,779 shares of the auto parts company’s stock worth $325,000 after buying an additional 482 shares during the period. 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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