Lear (NYSE:LEA) Price Target Cut to $99.00 by Analysts at Wells Fargo & Company

Lear (NYSE:LEA - Free Report) had its target price trimmed by Wells Fargo & Company from $106.00 to $99.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the auto parts company's stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Lear from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Morgan Stanley decreased their price target on Lear from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their price objective on Lear from $162.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Lear from $144.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Lear has an average rating of "Hold" and a consensus price target of $139.67.

Lear Stock Down 2.8 %

Shares of NYSE:LEA traded down $2.80 during trading on Monday, reaching $95.55. 976,547 shares of the company traded hands, compared to its average volume of 668,996. Lear has a 1-year low of $92.14 and a 1-year high of $147.11. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.19 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 0.60 and a beta of 1.45. The firm has a fifty day simple moving average of $99.81 and a 200 day simple moving average of $109.35.

Lear (NYSE:LEA - Get Free Report) last issued 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. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.87 EPS. Analysts anticipate that Lear will post 12.01 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, December 11th. Lear's dividend payout ratio is 32.39%.

Hedge Funds Weigh In On Lear

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new stake in shares of Lear in the second quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock worth $32,000 after acquiring an additional 110 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Lear in the 3rd quarter valued at about $34,000. Blue Trust Inc. raised its stake in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company's stock worth $35,000 after acquiring an additional 214 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock worth $36,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

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.