Fintel reports that on October 3, 2023, Wells Fargo maintained coverage of Lear (NYSE:LEA) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 30.74% Upside
As of August 31, 2023, the average one-year price target for Lear is 173.54. The forecasts range from a low of 141.40 to a high of $241.50. The average price target represents an increase of 30.74% from its latest reported closing price of 132.74.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lear is 22,724MM, an increase of 1.19%. The projected annual non-GAAP EPS is 13.50.
Lear Declares $0.77 Dividend
On August 10, 2023 the company declared a regular quarterly dividend of $0.77 per share ($3.08 annualized). Shareholders of record as of August 31, 2023 received the payment on September 19, 2023. Previously, the company paid $0.77 per share.
At the current share price of $132.74 / share, the stock's dividend yield is 2.32%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.85%, the lowest has been 0.51%, and the highest has been 2.80%. The standard deviation of yields is 0.67 (n=198).
The current dividend yield is 0.70 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.35. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 935 funds or institutions reporting positions in Lear. This is a decrease of 35 owner(s) or 3.61% in the last quarter. Average portfolio weight of all funds dedicated to LEA is 0.22%, an increase of 0.82%. Total shares owned by institutions decreased in the last three months by 4.35% to 65,364K shares. 
The put/call ratio of LEA is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
Pzena Investment Management holds 6,583K shares representing 11.21% ownership of the company. In it's prior filing, the firm reported owning 6,743K shares, representing a decrease of 2.43%. The firm decreased its portfolio allocation in LEA by 0.67% over the last quarter.
Diamond Hill Capital Management holds 2,049K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 1,418K shares, representing an increase of 30.78%. The firm increased its portfolio allocation in LEA by 42.85% over the last quarter.
Franklin Resources holds 1,999K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 1,877K shares, representing an increase of 6.10%. The firm increased its portfolio allocation in LEA by 368.14% over the last quarter.
Massachusetts Financial Services holds 1,964K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 1,980K shares, representing a decrease of 0.83%. The firm decreased its portfolio allocation in LEA by 1.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,843K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 1,831K shares, representing an increase of 0.65%. The firm decreased its portfolio allocation in LEA by 4.43% over the last quarter.
Lear Background Information
(This description is provided by the company.)
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 39 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 166 on the Fortune 500.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
