JPMorgan Chase & Co. Cuts Lear (NYSE:LEA) Price Target to $143.00

Lear (NYSE:LEA) had its target price reduced by JPMorgan Chase & Co. from $147.00 to $143.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. TD Cowen reduced their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Bank of America lowered their price target on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley reduced their price objective on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group lowered their price objective on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lear presently has an average rating of “Hold” and an average price target of $132.18.

Lear Stock Performance

NYSE LEA opened at $98.12 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. Lear has a 1-year low of $90.03 and a 1-year high of $147.11. The business has a 50 day simple moving average of $96.00 and a two-hundred day simple moving average of $104.43. The stock has a market capitalization of $5.33 billion, a PE ratio of 10.32, a P/E/G ratio of 0.49 and a beta of 1.43.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were paid a $0.77 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a yield of 3.14%. Lear’s payout ratio is 32.39%.

Institutional Trading of Lear

A number of large investors have recently made changes to their positions in LEA. Brooklyn Investment Group lifted its holdings in Lear by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after buying an additional 120 shares in the last quarter. Lakewood Asset Management LLC raised its stake in shares of Lear by 1.3% during the fourth quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock valued at $943,000 after acquiring an additional 126 shares in the last quarter. Quarry LP boosted its holdings in shares of Lear by 13.8% in the third quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 134 shares during the period. Signaturefd LLC grew its stake in Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Lear by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock worth $385,000 after purchasing an additional 143 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.