Arizona State Retirement System Has $2.28 Million Position in Lear Co. (LEA)

Arizona State Retirement System reduced its stake in Lear Co. (NYSE:LEA) by 42.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,583 shares of the auto parts company’s stock after selling 13,462 shares during the quarter. Arizona State Retirement System’s holdings in Lear were worth $2,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Lear by 61.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,182,032 shares of the auto parts company’s stock valued at $171,394,000 after purchasing an additional 450,389 shares during the period. Ashler Capital LLC grew its stake in Lear by 55.7% in the 3rd quarter. Ashler Capital LLC now owns 997,555 shares of the auto parts company’s stock valued at $144,645,000 after purchasing an additional 356,748 shares during the period. Renaissance Technologies LLC grew its stake in Lear by 177.4% in the 3rd quarter. Renaissance Technologies LLC now owns 506,000 shares of the auto parts company’s stock valued at $73,370,000 after purchasing an additional 323,600 shares during the period. FMR LLC grew its stake in Lear by 23.3% in the 2nd quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after purchasing an additional 302,664 shares during the period. Finally, Deutsche Bank AG grew its stake in Lear by 127.9% in the 3rd quarter. Deutsche Bank AG now owns 448,203 shares of the auto parts company’s stock valued at $64,984,000 after purchasing an additional 251,561 shares during the period. 96.53% of the stock is owned by institutional investors and hedge funds.

LEA stock opened at $150.22 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9.25 billion, a PE ratio of 8.24, a PEG ratio of 3.31 and a beta of 1.40. Lear Co. has a fifty-two week low of $114.45 and a fifty-two week high of $206.36.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, January 25th. The auto parts company reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.09. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.38 EPS. On average, equities analysts forecast that Lear Co. will post 17.91 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.75 per share. This is an increase from Lear’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. Lear’s dividend payout ratio is presently 15.37%.

LEA has been the subject of a number of recent analyst reports. ValuEngine upgraded Lear from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Tuesday, February 5th. Barclays set a $140.00 price objective on Lear and gave the company a “hold” rating in a research note on Friday, January 4th. Robert W. Baird upped their price objective on Lear from $140.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday, January 28th. They noted that the move was a valuation call. Finally, KeyCorp upped their price objective on Lear from $178.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, January 28th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Lear presently has a consensus rating of “Buy” and a consensus price target of $182.29.

In other news, Director Richard Harold Bott sold 789 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $135.13, for a total transaction of $106,617.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

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About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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