Wells Fargo & Company Lowers Lear (NYSE:LEA) Price Target to $114.00

Lear (NYSE:LEA - Free Report) had its price objective reduced by Wells Fargo & Company from $131.00 to $114.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the auto parts company's stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Lear from $179.00 to $166.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Evercore ISI cut their target price on shares of Lear from $155.00 to $145.00 and set an in-line rating for the company in a research report on Monday, July 15th. Bank of America cut their target price on shares of Lear from $205.00 to $185.00 and set a buy rating for the company in a research report on Monday, July 22nd. Morgan Stanley cut their price objective on shares of Lear from $160.00 to $150.00 and set an overweight rating for the company in a research report on Wednesday, August 14th. Finally, UBS Group cut their price objective on shares of Lear from $136.00 to $128.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $149.70.

Lear Stock Down 1.8 %

Shares of LEA stock traded down $2.00 on Friday, hitting $108.02. The company's stock had a trading volume of 1,721,988 shares, compared to its average volume of 645,496. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. Lear has a fifty-two week low of $101.67 and a fifty-two week high of $147.11. The firm's fifty day moving average price is $114.13 and its 200-day moving average price is $124.22. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.41 and a beta of 1.45.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the business earned $3.33 EPS. Lear's quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Lear will post 12.79 EPS for the current year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, September 4th. This represents a $3.08 annualized dividend and a yield of 2.85%. Lear's dividend payout ratio is 33.59%.

Institutional Trading of Lear

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Lear during the fourth quarter worth approximately $79,611,000. Grimes & Company Inc. acquired a new position in shares of Lear during the first quarter worth approximately $5,847,000. Campbell & CO Investment Adviser LLC lifted its position in shares of Lear by 56.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company's stock worth $2,842,000 after purchasing an additional 7,242 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Lear by 307.9% during the first quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company's stock worth $1,864,000 after purchasing an additional 9,714 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Lear during the first quarter worth approximately $1,984,000. 97.04% of the stock is 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.