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

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

LEA has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their target price on Lear from $177.00 to $179.00 and gave the company an overweight rating in a report on Monday, April 22nd. UBS Group dropped their target price on Lear from $142.00 to $136.00 and set a neutral rating on the stock in a report on Thursday, June 13th. Barclays decreased their price target on Lear from $175.00 to $165.00 and set an overweight rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded Lear from a buy rating to a hold rating in a report on Tuesday. Finally, Citigroup cut their target price on Lear from $145.00 to $141.00 and set a neutral rating on the stock in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lear presently has a consensus rating of Moderate Buy and an average target price of $160.00.

Lear Stock Down 0.1 %

Lear stock opened at $113.62 on Tuesday. The company has a market capitalization of $6.45 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.27 and a beta of 1.51. 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 fifty-two week low of $112.55 and a fifty-two week high of $157.90. The firm has a 50 day moving average price of $125.15 and a 200 day moving average price of $133.14.

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

Lear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, June 6th. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Insider Activity

In other Lear news, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total value of $296,273.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Greg C. Smith sold 2,392 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Several hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its stake in Lear by 337.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 63,761 shares of the auto parts company’s stock valued at $9,091,000 after buying an additional 49,177 shares in the last quarter. Boston Partners raised its holdings in shares of Lear by 4.2% in the first quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock worth $148,216,000 after acquiring an additional 41,496 shares during the last quarter. Swedbank AB purchased a new stake in shares of Lear in the first quarter valued at $1,984,000. Delphi Management Inc. MA acquired a new stake in shares of Lear during the first quarter valued at $232,000. Finally, Virtu Financial LLC purchased a new stake in Lear during the 1st quarter worth about $338,000. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

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.