Lear (NYSE:LEA) PT Raised to $139.00

Lear (NYSE:LEA) had its target price upped by Wells Fargo & Company from $134.00 to $139.00 in a research report report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

A number of other equities research analysts have also recently weighed in on LEA. StockNews.com upgraded Lear from a hold rating to a buy rating in a research note on Tuesday. UBS Group reduced their price objective on Lear from $146.00 to $142.00 and set a neutral rating for the company in a research note on Wednesday. Barclays boosted their price objective on Lear from $170.00 to $175.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Benchmark boosted their price objective on Lear from $188.00 to $200.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Lear from $177.00 to $179.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Lear presently has a consensus rating of Moderate Buy and a consensus target price of $161.44.

Lear Price Performance

LEA stock opened at $124.29 on Wednesday. The business has a 50 day moving average price of $138.62 and a 200 day moving average price of $135.77. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.34 and a beta of 1.54. Lear has a fifty-two week low of $117.79 and a fifty-two week high of $157.90. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.54.

Lear (NYSE:LEA) last posted its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.14. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. Lear had a return on equity of 14.09% and a net margin of 2.44%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 earnings per share. Equities research analysts anticipate that Lear will post 14.51 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, March 7th. Lear’s dividend payout ratio (DPR) is presently 31.82%.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the sale, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jason M. Cardew sold 2,750 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the transaction, the chief financial officer now owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the transaction, the chief executive officer now directly owns 13,627 shares in the company, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new position in Lear during the first quarter worth $32,000. Signaturefd LLC grew its holdings in Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Lear in the fourth quarter valued at $56,000. Covestor Ltd grew its holdings in Lear by 131.9% in the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 252 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Lear in the fourth quarter valued at $75,000. Institutional investors and hedge funds 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.