United Capital Financial Advisers LLC decreased its position in shares of Lear Co. (NYSE:LEA) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,748 shares of the auto parts company’s stock after selling 6,471 shares during the period. United Capital Financial Advisers LLC owned approximately 0.24% of Lear worth $20,020,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of LEA. Alpha Windward LLC grew its position in Lear by 11.6% in the second quarter. Alpha Windward LLC now owns 3,420 shares of the auto parts company’s stock worth $441,000 after acquiring an additional 355 shares in the last quarter. CIBC Asset Management Inc grew its position in Lear by 19.7% in the first quarter. CIBC Asset Management Inc now owns 3,699 shares of the auto parts company’s stock worth $502,000 after acquiring an additional 610 shares in the last quarter. Lazard Asset Management LLC grew its position in Lear by 3,467.7% in the first quarter. Lazard Asset Management LLC now owns 295,943 shares of the auto parts company’s stock worth $40,162,000 after acquiring an additional 287,648 shares in the last quarter. GAM Holding AG purchased a new position in Lear in the second quarter worth about $1,097,000. Finally, Commonwealth Bank of Australia grew its position in Lear by 25.8% in the first quarter. Commonwealth Bank of Australia now owns 35,049 shares of the auto parts company’s stock worth $4,749,000 after acquiring an additional 7,191 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.
NYSE LEA traded up $1.72 during trading on Friday, hitting $127.77. The stock had a trading volume of 18,249 shares, compared to its average volume of 553,675. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.09 and a current ratio of 1.34. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 7.01, a P/E/G ratio of 3.45 and a beta of 1.51. Lear Co. has a one year low of $105.10 and a one year high of $167.86. The stock has a 50 day simple moving average of $116.66 and a 200 day simple moving average of $134.15.
Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.82 by ($0.04). The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.95 EPS. On average, sell-side analysts predict that Lear Co. will post 14.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Thursday, August 29th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, August 28th. Lear’s dividend payout ratio is presently 16.47%.
Several research analysts recently commented on LEA shares. Barclays reiterated a “hold” rating and issued a $117.00 price target on shares of Lear in a research report on Wednesday, July 31st. Buckingham Research lowered Lear from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $140.00 in a research report on Wednesday, July 17th. Morgan Stanley dropped their price target on Lear from $165.00 to $143.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Longbow Research reiterated a “buy” rating and issued a $190.00 price target on shares of Lear in a research report on Sunday, June 30th. Finally, Credit Suisse Group dropped their price target on Lear from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $155.60.
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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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