Lear (NYSE:LEA) Price Target Cut to $160.00 by Analysts at JPMorgan Chase & Co.

Lear (NYSE:LEA) had its price target decreased by JPMorgan Chase & Co. from $162.00 to $160.00 in a research report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the auto parts company’s stock.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $132.00 price objective on shares of Lear in a report on Tuesday, September 10th. UBS Group lowered their price target on Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Citigroup reduced their price objective on Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Wolfe Research initiated coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.09.

Lear Trading Down 3.6 %

NYSE LEA opened at $105.08 on Monday. Lear has a 12 month low of $101.67 and a 12 month high of $147.11. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $109.84 and its 200-day moving average price is $118.79. The stock has a market cap of $5.97 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.44 and a beta of 1.44.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.34 by $0.26. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. Lear’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.33 EPS. As a group, equities analysts forecast that Lear will post 12.49 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were issued a $0.77 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 2.93%. Lear’s dividend payout ratio is currently 33.59%.

Hedge Funds Weigh In On Lear

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Grimes & Company Inc. bought a new position in shares of Lear in the first quarter worth about $5,847,000. Swedbank AB purchased a new position in Lear during the first quarter valued at approximately $1,984,000. Russell Investments Group Ltd. boosted its position in shares of Lear by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 307,383 shares of the auto parts company’s stock worth $44,534,000 after purchasing an additional 5,584 shares during the period. ARGA Investment Management LP increased its stake in shares of Lear by 196.7% in the first quarter. ARGA Investment Management LP now owns 319,156 shares of the auto parts company’s stock worth $46,239,000 after purchasing an additional 211,574 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Lear by 35.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock valued at $7,953,000 after purchasing an additional 14,305 shares during the period. 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.