Lear Corporation $LEA Stake Trimmed by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its holdings in Lear Corporation (NYSE:LEA) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,975 shares of the auto parts company’s stock after selling 6,650 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Lear were worth $8,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd increased its holdings in shares of Lear by 36.5% during the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 81 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Lear by 57.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 576 shares of the auto parts company’s stock valued at $66,000 after buying an additional 210 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Lear by 14.3% in the second quarter. IFP Advisors Inc now owns 624 shares of the auto parts company’s stock valued at $84,000 after buying an additional 78 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Lear by 15.6% in the second quarter. Parkside Financial Bank & Trust now owns 844 shares of the auto parts company’s stock valued at $113,000 after buying an additional 114 shares during the period. Finally, NFSG Corp acquired a new stake in Lear during the first quarter worth approximately $125,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Insider Activity

In other news, Director Conrad L. Mallett, Jr. sold 1,646 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $121.35, for a total transaction of $199,742.10. Following the completion of the transaction, the director owned 37 shares of the company’s stock, valued at approximately $4,489.95. The trade was a 97.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.

Lear Stock Performance

NYSE LEA opened at $116.70 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.66 and a beta of 1.29. The firm’s 50 day simple moving average is $123.12 and its 200 day simple moving average is $130.42. Lear Corporation has a 1 year low of $99.00 and a 1 year high of $150.33.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, beating the consensus estimate of $3.98 by $0.30. Lear had a net margin of 2.35% and a return on equity of 14.18%. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the business earned $3.06 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that Lear Corporation will post 14.88 earnings per share for the current fiscal year.

Lear declared that its board has initiated a share buyback plan on Thursday, September 24th that allows the company to buy back $1.50 billion in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 25.7% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd were paid a $0.77 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $3.08 annualized dividend and a dividend yield of 2.6%. Lear’s dividend payout ratio (DPR) is presently 28.70%.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Analysts expect Lear to report year-over-year earnings growth when it releases results on Friday, providing a potential catalyst for the stock. Lear Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Lear is being highlighted as a long-term value stock, which could attract investors given its relatively low valuation and the company’s prior earnings performance, including a recent quarterly earnings beat. Why Lear Is a Top Value Stock for the Long-Term
• Positive Sentiment: The average analyst price target is $143.58, substantially above Lear’s recent trading level, indicating considerable potential upside if earnings and industry conditions meet expectations. Lear Corporation Stock Has Average Price Target of $143.58
• Neutral Sentiment: Lear has appointed Fedele as chief financial officer. The leadership change may be relevant to investors, but the announcement provides no immediate change to earnings guidance or operating outlook. Lear Corporation Appoints Fedele as CFO
• Negative Sentiment: Zacks reports that Lear does not currently show the combination of indicators typically associated with a likely earnings beat. That caution may be weighing on the stock ahead of results, particularly while shares remain below their 50-day and 200-day moving averages. Lear Reports Next Week: Wall Street Expects Earnings Growth

Analyst Ratings Changes

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $131.00 price objective on Lear in a research note on Monday, August 3rd. BNP Paribas Exane downgraded Lear from an “outperform” rating to a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company increased their target price on Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. The Goldman Sachs Group reduced their target price on Lear from $140.00 to $124.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Finally, UBS Group decreased their price target on Lear from $141.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $143.58.

Lear Company Profile

Lear Corporation is a global automotive technology company that designs and manufactures products used in passenger vehicles and commercial vehicles. Its operations are organized primarily around two areas: seating and e-systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that support vehicle power management and connectivity.

The company serves automotive manufacturers and their vehicle programs in major markets across North America, Europe, Asia and other regions.