Lear (NYSE:LEA) Price Target Raised to $89.00

Lear (NYSE:LEA) had its target price raised by Wells Fargo & Company from $87.00 to $89.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

A number of other brokerages also recently weighed in on LEA. Morgan Stanley dropped their price objective on Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. cut their price objective on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $84.00 target price (down previously from $117.00) on shares of Lear in a research report on Thursday, April 10th. Citigroup started coverage on shares of Lear in a report on Wednesday, April 23rd. They issued a “buy” rating and a $123.00 price target on the stock. Finally, UBS Group decreased their price objective on Lear from $102.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $112.00.

Lear Stock Up 1.8 %

NYSE:LEA opened at $90.57 on Wednesday. The stock has a fifty day simple moving average of $87.26 and a 200-day simple moving average of $93.11. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. Lear has a twelve month low of $73.85 and a twelve month high of $133.56.

Lear (NYSE:LEA) last released its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.48. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Lear had a net margin of 2.17% and a return on equity of 14.70%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.18 EPS. Analysts anticipate that Lear will post 12.89 EPS for the current year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.08 annualized dividend and a dividend yield of 3.40%. Lear’s dividend payout ratio (DPR) is presently 36.11%.

Insider Buying and Selling at Lear

In other news, Director Rod Lache acquired 2,178 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $91.80 per share, with a total value of $199,940.40. Following the purchase, the director now directly owns 2,178 shares of the company’s stock, valued at $199,940.40. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by corporate insiders.

Institutional Trading of Lear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. Ontario Teachers Pension Plan Board grew its position in shares of Lear by 160.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,855 shares of the auto parts company’s stock valued at $1,046,000 after acquiring an additional 7,307 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lear by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 513,408 shares of the auto parts company’s stock worth $45,293,000 after buying an additional 17,644 shares during the period. Vanguard Group Inc. lifted its position in shares of Lear by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company’s stock valued at $587,315,000 after buying an additional 165,494 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in Lear by 20.4% in the 1st quarter. New Age Alpha Advisors LLC now owns 49,206 shares of the auto parts company’s stock valued at $4,341,000 after acquiring an additional 8,333 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Lear by 68.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,686 shares of the auto parts company’s stock worth $237,000 after acquiring an additional 1,096 shares during the period. 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.