Lear (NYSE:LEA) Price Target Cut to $143.00 by Analysts at JPMorgan Chase & Co.

Lear (NYSE:LEA) had its price target lowered by JPMorgan Chase & Co. from $147.00 to $143.00 in a research note published 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 issued reports on the company. The Goldman Sachs Group lowered their price target on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company lowered their target price on shares of Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. TD Cowen reduced their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.18.

Lear Trading Up 1.9 %

Shares of NYSE LEA opened at $98.12 on Monday. The firm’s 50 day moving average price is $96.00 and its 200-day moving average price is $104.43. Lear has a 52-week low of $90.03 and a 52-week high of $147.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The company has a market cap 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 business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, December 11th. Lear’s payout ratio is 32.39%.

Institutional Investors Weigh In On Lear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in shares of Lear by 7.3% in the third quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company’s stock valued at $842,054,000 after acquiring an additional 526,763 shares in the last quarter. Pacer Advisors Inc. raised its stake in Lear by 24.3% during the 3rd quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company’s stock valued at $137,975,000 after purchasing an additional 247,312 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Lear by 13.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company’s stock worth $187,046,000 after purchasing an additional 206,822 shares in the last quarter. Millennium Management LLC boosted its stake in Lear by 2,630.4% in the 2nd quarter. Millennium Management LLC now owns 161,422 shares of the auto parts company’s stock worth $18,436,000 after purchasing an additional 155,510 shares during the period. Finally, ARGA Investment Management LP grew its holdings in Lear by 25.7% during the 4th quarter. ARGA Investment Management LP now owns 595,615 shares of the auto parts company’s stock valued at $56,405,000 after buying an additional 121,734 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

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.