Lear (NYSE:LEA) Price Target Raised to $103.00 at Wells Fargo & Company

Lear (NYSE:LEA) had its target price upped by Wells Fargo & Company from $99.00 to $103.00 in a research note published 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. Morgan Stanley dropped their price target on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. TD Cowen decreased their price objective on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Barclays dropped their price target on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $130.18.

Lear Trading Up 1.4 %

Shares of Lear stock opened at $96.01 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $5.22 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company has a 50-day moving average of $95.59 and a two-hundred day moving average of $103.01. Lear has a 12-month low of $86.28 and a 12-month high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, research analysts anticipate that Lear will post 13.29 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Wednesday, December 11th. Lear’s dividend payout ratio is presently 34.45%.

Hedge Funds Weigh In On Lear

Several large investors have recently bought and sold shares of LEA. Nisa Investment Advisors LLC lifted its holdings in Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 187 shares in the last quarter. Blue Trust Inc. grew its holdings in Lear by 240.4% during the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 214 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lear during the 3rd quarter worth about $34,000. Signaturefd LLC grew its holdings in Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after buying an additional 139 shares in the last quarter. Finally, Addison Advisors LLC raised its position in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock valued at $32,000 after buying an additional 137 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.