Alyeska Investment Group L.P. lowered its position in shares of Lear Corporation (NYSE:LEA) by 70.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,000 shares of the auto parts company’s stock after selling 284,379 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.18% of Lear worth $20,770,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. CIBC World Markets Inc. grew its position in shares of Lear by 0.3% in the second quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock valued at $1,798,000 after purchasing an additional 40 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Lear by 3.9% in the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after purchasing an additional 42 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Lear by 2.8% in the second quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock valued at $346,000 after purchasing an additional 66 shares in the last quarter. HL Financial Services LLC grew its position in shares of Lear by 1.9% in the second quarter. HL Financial Services LLC now owns 3,571 shares of the auto parts company’s stock valued at $507,000 after purchasing an additional 67 shares in the last quarter. Finally, Strs Ohio grew its position in shares of Lear by 1.7% in the second quarter. Strs Ohio now owns 4,919 shares of the auto parts company’s stock valued at $698,000 after purchasing an additional 80 shares in the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jonathan F. Foster sold 2,854 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the completion of the transaction, the director now directly owns 7,761 shares in the company, valued at $1,345,679.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now owns 4,100 shares of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Insiders sold 11,337 shares of company stock valued at $1,946,256 over the last quarter. 0.49% of the stock is currently owned by company insiders.
LEA has been the subject of a number of analyst reports. Guggenheim lowered Lear from a “buy” rating to a “neutral” rating and set a $167.00 price target for the company. in a research report on Thursday, October 26th. Barclays set a $171.00 price target on Lear and gave the company a “hold” rating in a research report on Friday, October 20th. UBS lowered Lear from a “buy” rating to a “neutral” rating and upped their price target for the company from $158.00 to $182.00 in a research report on Tuesday, October 3rd. Jefferies Group initiated coverage on Lear in a research report on Thursday, September 28th. They issued a “buy” rating and a $197.00 price target for the company. Finally, Robert W. Baird restated a “buy” rating and issued a $178.00 price target on shares of Lear in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $173.13.
Shares of Lear Corporation (LEA) traded up $1.14 during trading on Monday, reaching $177.07. The company had a trading volume of 591,600 shares, compared to its average volume of 661,154. The stock has a market capitalization of $11,910.00, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.43. Lear Corporation has a 52 week low of $131.82 and a 52 week high of $181.38. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48.
Lear (NYSE:LEA) last issued its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.16. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.84 billion. Lear had a return on equity of 31.79% and a net margin of 5.79%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. equities research analysts predict that Lear Corporation will post 16.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.00 annualized dividend and a yield of 1.13%. Lear’s payout ratio is 12.22%.
Lear Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
Receive News & Ratings for Lear Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corporation and related companies with MarketBeat.com's FREE daily email newsletter.