Lear (NYSE:LEA) Given New $134.00 Price Target at Wells Fargo & Company

Lear (NYSE:LEAFree Report) had its price target raised by Wells Fargo & Company from $130.00 to $134.00 in a research note released on Wednesday, Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Several other analysts have also recently issued reports on LEA. StockNews.com cut shares of Lear from a buy rating to a hold rating in a research note on Tuesday, January 16th. UBS Group cut their price objective on shares of Lear from $150.00 to $145.00 and set a neutral rating on the stock in a report on Tuesday, October 10th. Citigroup cut their price objective on shares of Lear from $158.00 to $152.00 and set a neutral rating on the stock in a report on Wednesday, October 11th. JPMorgan Chase & Co. cut their target price on shares of Lear from $195.00 to $179.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. Finally, Barclays cut their target price on shares of Lear from $175.00 to $170.00 and set an overweight rating on the stock in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $160.22.

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Lear Trading Down 2.1 %

Shares of LEA opened at $132.35 on Wednesday. The stock has a fifty day moving average of $135.69 and a two-hundred day moving average of $137.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.35. The company has a market capitalization of $7.71 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.53. Lear has a fifty-two week low of $117.79 and a fifty-two week high of $157.90.

Lear (NYSE:LEAGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($0.09). Lear had a net margin of 2.44% and a return on equity of 14.09%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.69 billion. During the same period in the prior year, the firm earned $2.81 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts forecast that Lear will post 15.75 EPS for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Wednesday, December 6th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, December 5th. Lear’s dividend payout ratio (DPR) is 31.82%.

Insiders Place Their Bets

In other Lear news, CEO Raymond E. Scott sold 2,977 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $135.26, for a total value of $402,669.02. Following the completion of the transaction, the chief executive officer now owns 2,976 shares in the company, valued at approximately $402,533.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LEA. American Century Companies Inc. boosted its holdings in shares of Lear by 4.0% in the first quarter. American Century Companies Inc. now owns 10,192 shares of the auto parts company’s stock valued at $1,454,000 after acquiring an additional 390 shares in the last quarter. Private Advisor Group LLC bought a new stake in Lear during the first quarter worth approximately $657,000. Bank of Montreal Can boosted its holdings in Lear by 81.0% during the first quarter. Bank of Montreal Can now owns 19,834 shares of the auto parts company’s stock worth $2,890,000 after buying an additional 8,878 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Lear by 47.8% during the first quarter. Raymond James Trust N.A. now owns 1,948 shares of the auto parts company’s stock worth $277,000 after buying an additional 630 shares in the last quarter. Finally, Aviva PLC boosted its holdings in Lear by 62.8% during the first quarter. Aviva PLC now owns 39,256 shares of the auto parts company’s stock worth $5,598,000 after buying an additional 15,137 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

About Lear

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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.

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