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

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

A number of other research analysts also recently commented on LEA. UBS Group dropped their price objective on Lear from $136.00 to $128.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Evercore ISI dropped their price objective on Lear from $155.00 to $145.00 and set an in-line rating on the stock in a report on Monday, July 15th. Barclays dropped their price objective on Lear from $165.00 to $155.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. StockNews.com downgraded Lear from a buy rating to a hold rating in a report on Tuesday, June 25th. Finally, Citigroup dropped their price objective on Lear from $141.00 to $127.00 and set a neutral rating on the stock in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $157.80.

Lear Price Performance

LEA stock opened at $120.76 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04. The firm has a market capitalization of $6.86 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.34 and a beta of 1.47. The business’s 50-day moving average is $119.80 and its two-hundred day moving average is $130.24. Lear has a 1 year low of $112.26 and a 1 year high of $157.90.

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. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. Lear’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.78 EPS. Analysts anticipate that Lear will post 13.61 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.08 annualized dividend and a dividend yield of 2.55%. Lear’s dividend payout ratio (DPR) is currently 33.59%.

Insider Buying and Selling at Lear

In other news, Director Greg C. Smith sold 2,392 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total value of $296,273.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $124.55, for a total transaction of $159,174.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction on Thursday, May 23rd. The stock was 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. Company 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 position in Lear during the first quarter worth $29,000. Riverview Trust Co acquired a new position in Lear during the first quarter worth $32,000. Signaturefd LLC raised its holdings in shares of Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after acquiring an additional 91 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Lear in the fourth quarter worth $56,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Lear in the first quarter worth $62,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Company Profile

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.