Lear (NYSE:LEA) PT Lowered to $166.00 at JPMorgan Chase & Co.

Lear (NYSE:LEA) had its price target decreased by JPMorgan Chase & Co. from $179.00 to $166.00 in a report published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the auto parts company’s stock.

A number of other equities research analysts also recently commented on LEA. Morgan Stanley raised shares of Lear from an equal weight rating to an overweight rating and increased their price objective for the company from $150.00 to $160.00 in a research report on Friday, May 10th. StockNews.com lowered Lear from a buy rating to a hold rating in a report on Tuesday, June 25th. Wells Fargo & Company decreased their price target on Lear from $139.00 to $132.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. Barclays lowered their price objective on Lear from $165.00 to $155.00 and set an overweight rating for the company in a research report on Tuesday, July 16th. Finally, Citigroup cut their target price on Lear from $141.00 to $127.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lear currently has a consensus rating of Moderate Buy and an average target price of $157.80.

Lear Stock Down 2.1 %

Shares of NYSE LEA opened at $116.45 on Monday. Lear has a 12-month low of $112.26 and a 12-month high of $157.90. The stock has a market cap of $6.61 billion, a P/E ratio of 12.70, a PEG ratio of 0.28 and a beta of 1.47. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $120.01 and its 200-day simple moving average is $130.31.

Lear (NYSE:LEA) last posted its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter last year, the company earned $2.78 EPS. Lear’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Lear will post 14.15 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Thursday, June 6th. Lear’s dividend payout ratio is currently 33.59%.

Insider Activity

In other news, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total value of $296,273.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $124.55, for a total value of $159,174.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg C. Smith sold 2,392 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total value of $296,273.12. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Lear in the 1st quarter worth $29,000. Riverview Trust Co acquired a new stake in Lear in the first quarter valued at about $32,000. Signaturefd LLC boosted its holdings in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC acquired a new position in Lear during the 4th quarter worth approximately $56,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Lear during the 1st quarter worth approximately $62,000. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

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.