Lear (NYSE:LEA) Price Target Raised to $113.00

Lear (NYSE:LEA) had its price objective boosted by Wells Fargo & Company from $111.00 to $113.00 in a report released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America downgraded shares of Lear from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $123.00 in a research note on Wednesday, September 10th. Citigroup boosted their target price on shares of Lear from $123.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, June 30th. UBS Group decreased their target price on shares of Lear from $116.00 to $109.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Barclays increased their target price on shares of Lear from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Lear has a consensus rating of “Hold” and an average target price of $112.90.

Lear Trading Up 1.3%

Lear stock opened at $101.53 on Thursday. Lear has a one year low of $73.85 and a one year high of $115.47. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.79 and a beta of 1.34. The firm has a 50-day moving average of $103.77 and a 200-day moving average of $95.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07.

Lear (NYSE:LEA) last announced its earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.23 by $0.24. The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.89 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. Lear has set its FY 2025 guidance at EPS. On average, equities analysts expect that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, September 3rd. Lear’s dividend payout ratio (DPR) is currently 35.94%.

Insider Transactions at Lear

In related news, CEO Raymond E. Scott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the transaction, the chief executive officer owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total transaction of $492,350.00. Following the transaction, the chief financial officer directly owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Lear by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company’s stock worth $587,315,000 after acquiring an additional 165,494 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Lear by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,631,477 shares of the auto parts company’s stock valued at $232,145,000 after buying an additional 17,250 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Lear by 6.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company’s stock valued at $208,052,000 after purchasing an additional 145,751 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Lear by 75.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,801,284 shares of the auto parts company’s stock valued at $171,086,000 after purchasing an additional 775,476 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Lear by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,269,500 shares of the auto parts company’s stock valued at $120,577,000 after purchasing an additional 558,538 shares during 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.