Lear (NYSE:LEA) Price Target Raised to $112.00

Lear (NYSE:LEA) had its target price upped by Wells Fargo & Company from $108.00 to $112.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Several other analysts also recently issued reports on LEA. JPMorgan Chase & Co. raised their price target on Lear from $119.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wall Street Zen lowered Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Barclays raised their target price on Lear from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $104.00 price objective on shares of Lear in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $118.10.

Lear Trading Up 2.3%

NYSE LEA opened at $109.12 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. Lear has a one year low of $73.85 and a one year high of $113.10. The company has a 50-day simple moving average of $104.08 and a 200-day simple moving average of $98.58. The firm has a market capitalization of $5.81 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.82 and a beta of 1.32.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the business earned $2.89 earnings per share. Lear’s quarterly revenue was up 1.7% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Lear will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.08 annualized dividend and a yield of 2.8%. Lear’s dividend payout ratio is presently 37.65%.

Hedge Funds Weigh In On Lear

Several large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its holdings in shares of Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 263 shares in the last quarter. WealthCollab LLC bought a new stake in Lear during the second quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in Lear in the third quarter worth approximately $38,000. Farther Finance Advisors LLC boosted its stake in Lear by 34.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 107 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Lear during the 1st quarter valued at $39,000. 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.