Lear (NYSE:LEA) Price Target Cut to $106.00

Lear (NYSE:LEA) had its price objective reduced by Wells Fargo & Company from $114.00 to $106.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group reduced their target price on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price objective on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $132.00 price objective on shares of Lear in a research report on Tuesday, September 10th. Wolfe Research started coverage on Lear in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Barclays lowered their price objective on Lear from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.75.

Lear Stock Up 0.5 %

Shares of Lear stock opened at $98.63 on Friday. The stock has a 50-day simple moving average of $109.02 and a 200-day simple moving average of $117.77. Lear has a 52-week low of $97.51 and a 52-week high of $147.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.50 and a beta of 1.44.

Lear (NYSE:LEA) last posted its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.32. Lear had a return on equity of 14.75% and a net margin of 2.30%. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company earned $2.87 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts expect that Lear will post 12.27 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is 33.59%.

Institutional Trading of Lear

A number of large investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. boosted its stake in Lear by 20.2% in the third quarter. Pinnacle Associates Ltd. now owns 2,932 shares of the auto parts company’s stock worth $320,000 after purchasing an additional 493 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Lear by 13.6% in the third quarter. New York State Teachers Retirement System now owns 43,949 shares of the auto parts company’s stock worth $4,797,000 after purchasing an additional 5,255 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Lear in the third quarter worth $72,000. Semanteon Capital Management LP acquired a new position in Lear in the third quarter worth $1,144,000. Finally, State of Alaska Department of Revenue boosted its stake in Lear by 5.5% in the third quarter. State of Alaska Department of Revenue now owns 6,533 shares of the auto parts company’s stock worth $713,000 after purchasing an additional 340 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

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.