Lear (NYSE:LEA) Price Target Raised to $120.00 at Evercore ISI

Lear (NYSE:LEA) had its target price boosted by Evercore ISI from $110.00 to $120.00 in a research note issued to investors on Monday, Marketbeat reports. Evercore ISI currently has an in-line rating on the auto parts company’s stock.

LEA has been the subject of several other research reports. The Goldman Sachs Group set a $104.00 target price on shares of Lear in a report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. UBS Group cut their price target on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Bank of America cut shares of Lear from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $123.00 in a research report on Wednesday, September 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $119.60.

Lear Trading Up 0.5%

Shares of Lear stock opened at $104.70 on Monday. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.82 and a beta of 1.38. The business has a 50-day moving average price of $103.13 and a 200-day moving average price of $100.56. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. Lear has a twelve month low of $73.85 and a twelve month high of $113.10.

Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. Lear had a return on equity of 13.94% and a net margin of 2.05%.The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same period in the prior year, the firm earned $2.89 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Lear will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Wednesday, December 10th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, December 10th. Lear’s dividend payout ratio (DPR) is currently 37.65%.

Hedge Funds Weigh In On Lear

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc raised its stake in shares of Lear by 1,384.2% during the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after buying an additional 263 shares during the period. WealthCollab LLC acquired a new position in Lear during the second quarter worth $28,000. Advisory Services Network LLC acquired a new position in Lear during the third quarter worth $33,000. Quent Capital LLC purchased a new position in Lear during the third quarter valued at $38,000. Finally, WPG Advisers LLC acquired a new stake in shares of Lear in the first quarter valued at about $39,000. Institutional investors and hedge funds 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.