KBC Group NV Sells 5,586 Shares of Lear Co. (NYSE:LEA)

KBC Group NV decreased its holdings in Lear Co. (NYSE:LEA) by 54.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,668 shares of the auto parts company’s stock after selling 5,586 shares during the period. KBC Group NV’s holdings in Lear were worth $510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 110 shares during the period. Wahed Invest LLC grew its position in shares of Lear by 14.0% in the first quarter. Wahed Invest LLC now owns 1,125 shares of the auto parts company’s stock valued at $163,000 after purchasing an additional 138 shares in the last quarter. Signaturefd LLC raised its stake in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 139 shares during the period. Systematic Financial Management LP raised its stake in shares of Lear by 1.0% during the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock valued at $1,866,000 after purchasing an additional 155 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Lear by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock worth $251,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Trading Down 0.2 %

Shares of LEA opened at $95.40 on Tuesday. Lear Co. has a fifty-two week low of $94.29 and a fifty-two week high of $147.11. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.53 and a beta of 1.46. The firm has a 50 day moving average price of $103.36 and a 200-day moving average price of $113.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 earnings per share. As a group, equities research analysts forecast that Lear Co. will post 12.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays lowered Lear from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $140.00 to $120.00 in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. cut their price target on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group decreased their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.25.

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.