First Trust Advisors LP Has $30.05 Million Position in Lear Corporation $LEA

First Trust Advisors LP lessened its holdings in Lear Corporation (NYSE:LEA) by 34.5% during the second quarter, Holdings Channel reports. The fund owned 316,348 shares of the auto parts company’s stock after selling 166,711 shares during the period. First Trust Advisors LP’s holdings in Lear were worth $30,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in shares of Lear in the first quarter valued at $1,463,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lear during the 1st quarter worth about $725,000. Voya Investment Management LLC grew its stake in Lear by 34.4% in the 1st quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after buying an additional 11,696 shares during the last quarter. Comerica Bank raised its holdings in Lear by 9.8% in the 1st quarter. Comerica Bank now owns 40,086 shares of the auto parts company’s stock valued at $3,536,000 after acquiring an additional 3,575 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Lear by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 513,408 shares of the auto parts company’s stock worth $45,293,000 after acquiring an additional 17,644 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on LEA. UBS Group decreased their target price on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Bank of America lowered Lear from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $135.00 to $123.00 in a report on Wednesday, September 10th. JPMorgan Chase & Co. lifted their target price on Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Evercore ISI boosted their target price on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a research report on Monday, November 24th. Finally, The Goldman Sachs Group set a $104.00 price target on shares of Lear in a research report on Monday, September 29th. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Lear has a consensus rating of “Hold” and a consensus target price of $118.80.

Lear Price Performance

Shares of LEA stock opened at $111.37 on Thursday. The business has a fifty day simple moving average of $104.35 and a 200 day simple moving average of $101.77. The company has a market cap of $5.78 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.92 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.53. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $113.10.

Lear (NYSE:LEA) last issued its earnings results on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.89 earnings per share. On average, sell-side analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Wednesday, December 10th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $3.08 annualized dividend and a yield of 2.8%. Lear’s dividend payout ratio is presently 37.65%.

Lear 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.