Lear (NYSE:LEA) Price Target Lowered to $132.00 at Wells Fargo & Company

Lear (NYSE:LEA) had its target price decreased by Wells Fargo & Company from $139.00 to $132.00 in a research report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

Several other brokerages have also issued reports on LEA. JPMorgan Chase & Co. lifted their price target on Lear from $177.00 to $179.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Morgan Stanley upgraded shares of Lear from an equal weight rating to an overweight rating and raised their price target for the company from $150.00 to $160.00 in a research note on Friday, May 10th. StockNews.com lowered shares of Lear from a buy rating to a hold rating in a research report on Tuesday. UBS Group dropped their price target on Lear from $142.00 to $136.00 and set a neutral rating for the company in a research note on Thursday, June 13th. Finally, Barclays dropped their target price on Lear from $175.00 to $165.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lear has an average rating of Moderate Buy and an average price target of $160.00.

Lear Stock Performance

LEA opened at $113.62 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. Lear has a 52-week low of $112.55 and a 52-week high of $157.90. The firm has a market cap of $6.45 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 0.27 and a beta of 1.51. The business’s fifty day moving average is $125.15 and its 200-day moving average is $133.14.

Lear (NYSE:LEA) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.14. Lear had a net margin of 2.28% and a return on equity of 14.47%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the company posted $2.78 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts expect that Lear will post 14.21 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Thursday, June 6th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, June 6th. Lear’s dividend payout ratio is currently 33.59%.

Insider Activity

In other news, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total value of $296,273.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lear news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Smith sold 2,392 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Lear

Several institutional investors and hedge funds have recently made changes to their positions in LEA. Signaturefd LLC grew its position in Lear by 32.3% during the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after buying an additional 91 shares during the period. State of Michigan Retirement System boosted its stake in Lear by 0.5% in the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after acquiring an additional 100 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock valued at $555,000 after acquiring an additional 100 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake 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 worth $989,000 after purchasing an additional 124 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Lear by 16.8% in the 1st quarter. Fifth Third Bancorp now owns 882 shares of the auto parts company’s stock worth $128,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

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.