Strategic Global Advisors LLC Trims Holdings in Lear Co. (NYSE:LEA)

Strategic Global Advisors LLC decreased its holdings in shares of Lear Co. (NYSE:LEAFree Report) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,937 shares of the auto parts company’s stock after selling 4,625 shares during the quarter. Strategic Global Advisors LLC’s holdings in Lear were worth $980,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Lear by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,644 shares of the auto parts company’s stock valued at $1,428,000 after acquiring an additional 555 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lear by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,265 shares of the auto parts company’s stock valued at $58,681,000 after purchasing an additional 1,772 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Lear by 33.2% during the 3rd quarter. HighTower Advisors LLC now owns 4,158 shares of the auto parts company’s stock valued at $563,000 after buying an additional 1,036 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Lear by 16.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,479 shares of the auto parts company’s stock worth $1,406,000 after purchasing an additional 1,500 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Lear in the 3rd quarter worth about $1,021,000. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. UBS Group dropped their price objective on Lear from $146.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays dropped their price target on shares of Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Morgan Stanley raised Lear from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $150.00 to $160.00 in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.44.

Check Out Our Latest Research Report on LEA

Insider Activity

In other news, Director Greg C. Smith sold 2,392 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Greg C. Smith sold 2,392 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $124.55, for a total value of $159,174.90. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Lear Price Performance

NYSE:LEA opened at $122.74 on Tuesday. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.32 and a beta of 1.51. The company has a 50-day moving average of $130.66 and a 200-day moving average of $134.86. Lear Co. has a 52 week low of $120.40 and a 52 week high of $157.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33.

Lear (NYSE:LEAGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping 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 business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company earned $2.78 EPS. Lear’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Lear Co. will post 14.32 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Thursday, June 6th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, June 6th. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Lear Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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