Lear Co. (NYSE:LEA) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in shares of Lear Co. (NYSE:LEA) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,376 shares of the auto parts company’s stock after selling 390 shares during the period. US Bancorp DE’s holdings in Lear were worth $225,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its position in shares of Lear by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after buying an additional 120 shares during the last quarter. Lakewood Asset Management LLC lifted its position in shares of Lear by 1.3% during the fourth quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock worth $943,000 after purchasing an additional 126 shares in the last quarter. Quarry LP lifted its position in shares of Lear by 13.8% during the third quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 134 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Lear by 68.2% during the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 137 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Lear by 4.2% in the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after acquiring an additional 143 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lear news, Director Rod Lache bought 2,178 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, with a total value of $199,940.40. Following the transaction, the director now directly owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. UBS Group lowered their price objective on shares of Lear from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Cowen lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Cowen downgraded Lear from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a report on Friday, March 7th. Finally, Barclays cut their price target on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.36.

Lear Stock Up 1.1 %

LEA opened at $94.56 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The business has a 50-day moving average of $95.17 and a two-hundred day moving average of $99.74. Lear Co. has a 12 month low of $86.28 and a 12 month high of $147.11.

Lear (NYSE:LEA) last issued its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, research analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Thursday, March 6th. Lear’s dividend payout ratio is presently 34.45%.

About Lear

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.