Lear (NYSE:LEA – Free Report) had its price objective lowered by Wells Fargo & Company from $106.00 to $99.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the auto parts company’s stock.
Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wolfe Research assumed coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. StockNews.com downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America dropped their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, TD Cowen reduced their target price on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.67.
View Our Latest Research Report on LEA
Lear Trading Down 2.8 %
Lear (NYSE:LEA – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.87 earnings per share. As a group, sell-side analysts forecast that Lear will post 12.01 EPS for the current fiscal year.
Lear Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is presently 32.39%.
Institutional Investors Weigh In On Lear
A number of institutional investors have recently modified their holdings of LEA. EverSource Wealth Advisors LLC boosted its position in Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Quarry LP lifted its position in shares of Lear by 13.8% during the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock valued at $121,000 after buying an additional 134 shares in the last quarter. Signaturefd LLC lifted its position in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after buying an additional 139 shares in the last quarter. Wellington Management Group LLP grew its stake in Lear by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after acquiring an additional 143 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Lear by 1.0% in the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock worth $1,866,000 after acquiring an additional 155 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.
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.
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