Commerce Bank Sells 1,943 Shares of Lear Co. (NYSE:LEA)

Commerce Bank trimmed its position in shares of Lear Co. (NYSE:LEA) by 50.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,926 shares of the auto parts company’s stock after selling 1,943 shares during the period. Commerce Bank’s holdings in Lear were worth $210,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LEA. Swedbank AB bought a new position in Lear in the 1st quarter worth about $1,984,000. Seven Eight Capital LP bought a new position in Lear in the 2nd quarter worth about $530,000. Boston Partners grew its stake in Lear by 4.2% in the 1st quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock worth $148,216,000 after acquiring an additional 41,496 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Lear by 39.9% in the 3rd quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock worth $2,316,000 after purchasing an additional 6,055 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Lear Stock Up 0.5 %

LEA stock opened at $97.25 on Thursday. The firm has a market cap of $5.28 billion, a PE ratio of 10.20, a P/E/G ratio of 0.60 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The firm’s fifty day moving average is $102.37 and its 200 day moving average is $112.12. Lear Co. has a one year low of $92.14 and a one year high of $147.11.

Lear (NYSE:LEA) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $2.87 earnings per share. On average, research analysts forecast that Lear Co. will post 12.01 EPS for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, December 11th. Lear’s payout ratio is 32.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LEA. Wolfe Research began coverage on shares of Lear in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America lowered their price target on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays cut shares of Lear from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $140.00 to $120.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, The Goldman Sachs Group decreased their target price on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $140.25.

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 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.