Strategic Global Advisors LLC Sells 4,625 Shares of Lear Co. (NYSE:LEA)

Strategic Global Advisors LLC decreased its stake in shares of Lear Co. (NYSE:LEAFree Report) by 40.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of Lear by 32.3% during the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Lear in the fourth quarter valued at about $56,000. Covestor Ltd increased its holdings in shares of Lear by 131.9% during the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock worth $59,000 after buying an additional 252 shares during the last quarter. Fifth Third Bancorp increased its stake in Lear by 21.4% during the fourth quarter. Fifth Third Bancorp now owns 755 shares of the auto parts company’s stock worth $107,000 after acquiring an additional 133 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of Lear by 41.3% during the 4th quarter. Quent Capital LLC now owns 873 shares of the auto parts company’s stock worth $123,000 after purchasing an additional 255 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lear

In other news, Director Greg C. Smith sold 2,392 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. In other Lear news, Director Greg C. Smith sold 2,392 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction that occurred 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 owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on LEA shares. Wells Fargo & Company raised their price target on Lear from $134.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Morgan Stanley upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $160.00 in a report on Friday, May 10th. Citigroup lowered their price target on Lear from $145.00 to $141.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Barclays cut their price target on Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $161.44.

Read Our Latest Research Report on LEA

Lear Stock Down 0.5 %

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

Lear (NYSE:LEAGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share 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 company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the firm posted $2.78 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Lear Co. will post 14.32 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, June 6th. Lear’s dividend payout ratio is currently 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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