Lear (NYSE:LEA) Price Target Cut to $107.00 by Analysts at Wells Fargo & Company

Lear (NYSE:LEA) had its price target lowered by Wells Fargo & Company from $112.00 to $107.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the auto parts company’s stock.

Several other equities research analysts also recently commented on the company. The Goldman Sachs Group set a $104.00 target price on Lear in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research report on Wednesday, October 8th. Barclays raised their price target on shares of Lear from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $112.00 price objective (down from $115.00) on shares of Lear in a research report on Monday. One investment analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Lear presently has a consensus rating of “Hold” and an average price target of $118.80.

Lear Stock Performance

NYSE:LEA opened at $106.40 on Tuesday. The firm’s fifty day simple moving average is $104.15 and its 200 day simple moving average is $101.70. The company has a current ratio of 1.35, a quick ratio of 1.05 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. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.90 and a beta of 1.33.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share. As a group, equities research analysts expect that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $3.08 annualized dividend and a dividend yield of 2.9%. Lear’s payout ratio is presently 37.65%.

Hedge Funds Weigh In On Lear

A number of hedge funds have recently bought and sold shares of LEA. IFP Advisors Inc increased its holdings in Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after buying an additional 263 shares during the last quarter. WealthCollab LLC acquired a new position in shares of Lear in the 2nd quarter worth approximately $28,000. Allworth Financial LP increased its holdings in shares of Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 119 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Lear during the 3rd quarter valued at approximately $33,000. Finally, Quent Capital LLC acquired a new stake in shares of Lear during the 3rd quarter valued at approximately $38,000. 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.