Strs Ohio cut its position in shares of Lear Co. (NYSE:LEA) by 49.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,930 shares of the auto parts company’s stock after selling 6,859 shares during the quarter. Strs Ohio’s holdings in Lear were worth $851,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of LEA. FMR LLC raised its holdings in shares of Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock worth $297,203,000 after acquiring an additional 302,664 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Lear in the third quarter worth $184,000. Midas Management Corp raised its holdings in shares of Lear by 138.6% in the third quarter. Midas Management Corp now owns 16,700 shares of the auto parts company’s stock worth $2,422,000 after acquiring an additional 9,700 shares during the last quarter. Daiwa SB Investments Ltd. raised its holdings in shares of Lear by 2,220.0% in the third quarter. Daiwa SB Investments Ltd. now owns 1,160 shares of the auto parts company’s stock worth $168,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Lourd Capital LLC acquired a new position in shares of Lear in the third quarter worth $281,000. 89.62% of the stock is owned by hedge funds and other institutional investors.
LEA has been the subject of a number of analyst reports. UBS Group raised Lear from a “neutral” rating to a “buy” rating in a report on Friday, January 4th. Jefferies Financial Group initiated coverage on Lear in a report on Tuesday, December 4th. They issued a “buy” rating and a $166.00 price target for the company. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a report on Tuesday, January 15th. Morgan Stanley cut their price target on Lear from $214.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Finally, Barclays set a $140.00 price target on Lear and gave the stock a “hold” rating in a report on Friday, January 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $181.87.
Shares of NYSE:LEA opened at $153.50 on Wednesday. The firm has a market capitalization of $9.95 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 3.46 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. Lear Co. has a 52 week low of $114.45 and a 52 week high of $206.36.
Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, January 25th. The auto parts company reported $4.05 EPS for the quarter, beating the Zacks’ consensus estimate of $3.96 by $0.09. The business 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 26.95% and a net margin of 5.37%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.38 earnings per share. On average, research analysts anticipate that Lear Co. will post 17.91 earnings per share for the current fiscal year.
In other news, Director Richard Harold Bott sold 789 shares of Lear stock in a transaction on Friday, November 16th. The stock was sold at an average price of $135.13, for a total value of $106,617.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by insiders.
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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